Led flashlight upgrade

I have these old battery-operated flashlights. They're good flashlights, but they have these old incandescent bulbs that suck, they don't light well and they use up too much battery power.
So I replaced the glass bulb with LEDs of the same size. The LEDs have the same voltage of 3 volts (two 1.5V batteries) so I don't need to use resistors to lower the voltage.
Original lamp: 3 volt and 0.5 amp
P = 3x0.5 = 1.5 Watts
LED: 3 volt and 0.03 amp
P = 3x0.03 = 0.09 Watts only!