I would add to that the generator bulb as well, if you are running an alternator.
There are a number of issues using an LED in place of the 12 volt bulb.
Firstly, as mentioned above, there may well be a problem getting the alternator to kick in, this is due to the lack of power coming via the LED to the alternator regulator.
Secondly, once started and the bulb or LED is extinguished, the D+ cable is used as a voltage sensing line by the regulator. If there is a large load such as headlights and wipers on, the voltage at the fuse-box will drop slightly compared to the voltage to the battery and the regulator compensates the output to match the load. With an LED in circuit this function is largely unable to operate.
Thirdly, and depending on the vehicles ignition system, many find the engine will keep running once the key-switch is turned off.
A Dynamo is not affected by any of the above!
Peter Good