LED Lightbulb and Arduino Control

You never want to control a LED with voltage only; once you reach the forward voltage of the LED (Vf) the current starts to ramp up very quickly with very small increments in voltage. A LED should always use a current controlled supply if you want reliability.

I'd suggest poking around on eBay for an AC LED driver; they're so cheap it's impossible to beat them with a DIY approach.