Thanks. I wonder if it could be a light for the front facing camera for video chatting? Maybe not bright enough though, so maybe it is for notification. There are notifications listed in the notification area but sometimes the light is on and other times off.
Please search for the other notification thread. That one actually had some decent information. YES there is a blue light. YES there is a red light. Someone from another forum even said a pink light which would hint that the led also has a green light. If it's rgb, you got a lot of colors to choose from in an app like Handcent.
EDIT: Pink may actually be the red that I was seeing. Anyways, I hope this is a multicolored rgb led.
Those threads are just speculation. I am looking for some sort of confirmation from Sprint, Samsung or a handon video. So far I have found none.
This video from Phandroid clearly shows an LED. In this instance it is red, probably indicating that it is charging. I've also seen a video with the LED blue. I'd think that would mean it was fully charged. What I haven't been able to find, or confirm, is if the LED blinks for notifications. But I'm sure that it does. It wouldn't make sense not to use it for notifications.
I'm guessing that the reason the Epic has an LED light while the rest of the Galaxy S line does not, is because Sprint requested it.