Be cautious with the use of LEDs for the indicator lights. Some LED bulbs have internal full wave rectifier circuits built in to them which makes them insensitive to polarity / bulb orientation. Some LED bulbs do not have the internal full wave rectifier circuits with the result that depending on how you insert the bulb in the socket, it may not light up (one way to deal with that persistent check engine or SRS light). The V/I characteristics of LEDs are distinctly different that incandescent bulbs. If the activation for the indicator light is a simple mechanical switch, the LED indicator should work just fine. If the activation is electronic (turn signals, SRS, EPS, MIL ....), operation might be an unknown.
LEDs for the gauge illumination are not a problem as long as you don't mind the non dimming feature that Drew identified. Depending on the replacement, they may or may not have the polarity sensitivity problem. If you go into the technical specifications pages on websites like Superbright LEDs, they will typically advise whether a particular LED bulb is polarity sensitive.