> Blue ones are used, at least around my area, to decorate things.
Don't let the "blue LED" headline fool you. This discovery did not just enable blue LEDs but a whole range of nitride-based devices. This includes, but is not limited to:
* LEDs for a wide range of colours, including white LEDs for general lighting
* blue (and other colour) laser diodes (e.g. Blu-ray)
* solar cells (nitrides show good radiation resistance, making them of specific interest for space applications)
* high electron mobility transistors (power converters are a big application, but these are useful for a huge range of other applications too e.g. radar)
* potential for biosensors (it's non-toxic/biocompatible and can be functionalised)
* better UV emitters (and all that entails, e.g. water purification, or potentially lithography)
and more besides. It really is an enabling technology, though obviously there are alternatives for a lot of these applications too. Blue LEDs just started this all off.