"Whether or not these pricier bulbs will actually last that long is still an open question, and not one that the average consumer is likely to investigate. There are already reports of CFLs and LED lamps burning out long before their rated lifetimes were reached. "
Other than warmth, my home LEDs (all of them - Cree) have lasted 7 years and look to last about 10-15 more. They've already paid for themselves as before that I was replacing 4-5 bulbs a year and wasting 10x the wattage.