For my 2010 show I purchased some strings of 200 Multi-colored LED's from Sam's Club. The string of 200 is made up of 4 individual strings of 33 and 2 strings of 34. However, they are wired such that strings 1,3,and 5 are on during the positive 1/2 cycle and strings 2, 4, and 6 are on during the negative 1/2 cycle.
Last month I converted one of the strings to full wave to see what difference it would make. I added a full wave bridge rectifier, and do to the way the string was wired, I had to reverse the connections to each section. I got the string of 200 converted and did some testing.
My empirical observation was the full wave string was brighter. This makes sense since each LED is ON during both half-cycles.
When a LED of the 1/2 wave string is moved rapidly, I observed a period of time when the LED was on and a period of time when it was off, a - - - type of look. I observed the same on the full wave string but the OFF time was reduced, It appeared as a ---- . The off portion of the full wave string is due to the fact that there is a minimum voltage required to turn the string of 33 LED's on. The rectified AC voltage does drop below this value thus the off time for the LEDs.
I connected both strings to the same channel of an express to see how they dimmed. In my opinion, the full wave string dimmed better but keep in mind it is also brighter. DLA member mms was present when the testing was done and perhaps me would like to add his 2 cents worth.
I also connected the full wave string to a 120 VDC supply that I have. When the LEDs were moved rapidly, the LEDs were on continuously - no off time period was observed. This makes sense since the voltage is constant and never drops below the minimum value needed to turn the string on.