with lasers you can swing one around while saying "Luke, I am your father." in a robotic voice.
More to the point, take on the following.
Lasers give a grainy or granulated light, LEDs give a clean, smooth light. Case in point, Marky610s latest video demonstrating the Yukon Photon. the first part of the video was shot with the on-board IR laser, the second with a cheap torch with a good IR LED fitted. The first part looks like it was shot through wire mesh, the second is very clean. Vid is in this thread:
viewtopic.php?f=3&t=3587
Take that cheap IR torch, add a good head/lens/LED and it will also compete with a laser for range. The newer Marky Light designs by Marky 610 will flood a field out to 400 meters or more, the bigger ones will go a lot further. A few hours going through his Youtube channel will 'enlighten' you.
So at the moment LEDs rule for quality of image.
The next thing to consider is safety. IR lasers are invisible to the naked eye, there is no blink reflex involved, so there is the chance of causing blindness if shone in someones eye or the eyes of livestock is an issue. There is a thread on laser safety in the illuminator forum. Read it before purchasing.
Next is the wavelength. The longer the wavelength (higher number) the less visible the light is to game. 850nm is still noticeable by some critters, 940 is not. For less than 100m I would go the 940. If you need to spot your backstop to make sure there are no people or livestock, then an 850 will give longer viewing distance.
My take? Just get the Pulsar LED 940 torch and go shooting. After you have played for a while you can consider upgrading. Some Bloke and Sikastag both sell parts and complete units for custom torches, Sikastag is effectively the licensed manufacturer of the Marky Light designs.