LED's are having a problem with longevity. Sure, they last 2 billion hours. However, some of them don't produce much usable light after a few hundred hours. Quality counts!
I have a string of Christmas LED lights I purchased last year. The purple ones are nearly out.
The same goes for my LED floodlight in my den. It's lost much of it's original brightness. Plus the color temperature sucks.
There are some really high quality LED's that are being installed in industrial fixtures. They have excellent color rendition (high CRI) and they do last a long time. However, they are not the typical "overdriven" low quality, cheap, Chinese LED's that you are likely to come across.
Home Depot sells some recessed lighting LED's. They get fair reviews. However, they are not cheap, and I am not convinced they will outlast a very high quality CFL, such as the instant on Sylvania's sold at Lowes (seem to the be the highest quality ones).