I'm trying to design something that will work with several LEDs, although it will start with a single driver under PWM control. The eventual goal is a "shield" designed to fit on an Arduino Nano. (LED Driver, microSD, Accelerometer, Audio Amp)
The idea being is you want just a single color LED the driver will be on the board. (If you wish to drive RGB(A) then you would add on a 2x or 3X driver sub-board.) Most folks would just want to drive one LED.... somewhere between 350 ma to 1200 ma.
My personal favorite is the RGBA by Ledengin (Red, Green, Blue, Amber)
@1000 ma
R 2.4v
G 3.7v
B 3.7v
A 2.7v
Although I was running mine using the STCS2 @1200 ma. (I'm OK with a lightsaber LED that only burns for thousands of hours instead of 10's of thousands. 
4xAA Nimh Pack so 4.8v source.
http://www.ledengin.com/files/products/LZ4/LZ4-00MA00.pdf
(Opps.. meant to include link to LED.)