Beginner question: Arduino & External Power Supply

CrossRoads:
No, the difference is LEDs can have different current draws, or one can fail open and then the allowed current goes to the other 2 and takes them out.

Your mileage may vary - I have 8 digits wired up with 3 LEDs in parallel being driven by a MAX7221, has been working great for a year+ now.
These were made from superbright LEDs, and I have the current set lower as otherwise it was waaaay too bright.

Here it is photographed from ~30 feet way. Haven't figured out the camera settings needed for capturing multiplexed LEDs.

Ah yes, I can see your point there -- if one fails it will be overloaded (or "underloaded", as it were).

And I was looking at LED drivers, but I was hoping I could get away without one. I don't have a good reason for this mind you (except for the cost and having to wait for the mail to arrive); do you think it would be advisable?

The end project I have in mind is for some translucent kitchen cabinets. All four cabinets would have a string of four or five LEDs which would react to various sensors (cabinet open, darkness, etc.).