cbarn: When LEDs fail, they open - if all are in series, then you get zip. Using a resistor in series IS the proper design practice.
BAD design practice is using a single resistor to limit a plurality of LEDs when those LEDS are all in parallel. (one resistor for a bunch of parallel LEDs spells disaster as the variations in the LEDs will likely lead to one "running away" and frying, which will then open, causing the current to increase across the remaining and pow pow pow. Kinda like semiconductor dominoes....)
Macgyver: Yes indeed. - the rated specs are subject to the fluctuations inherent in all semiconductor technologies.
To improve reliability, derate by a factor of two - thus if the max average current is 20ma, design for 10.
As a matter of practicality though one can dispense with the current limiting resistor if one has the means for varying the duty cycle to limit current. What's ultimately important is keeping the junction temp within it's nominal limits.
I mention this as Prenavin's states that the LEDs are only on about 16% of the time. He could operate the LEDs at 60ma, and the average current would be only 10, yet appear plenty bright.
Andy