I'm more of a visual person and usually have the phone sitting on my desk on Vibrate. It's nice to be able to just look and glance at the screen plus it most likely takes less power to light a couple pixels on the screen since no power is used for blacks than to power the vibrate and sounds. Which I believe noled now has those features but I don't use them.
I use an app called Flash Notify. I used NoLed for a while but didn't really like it. I like how Flash Notify makes the screen flash (you can set a flash time interval) as well as an audible notification if you choose. No more not knowing if I missed an important call or text! *Sammy Fascinate*