I did my whole house with LED last in 2012. Shipped in the bulbs from China.
Cost in China in 2012 was RMB15 per 3W E27, and E14 bulb (screw in type - E = Edison, 27 = 27mm, 14 = 14mm).
I've since updated to 5W and 7W ones in some area's, as 3W was a little optimistic!
This year the pricing is about the same, but the 5w and 7w ones have dropped to the 3W price point.
All in all, it cost me about R2000 to buy (@R6 or so I think to the RMB, now its way more sadly), and ship bulbs over. I went airfreight which was a bit unnecessary, but they're light, so it was ok, and airfreight is easier than sea freight paperwork wise.
I still have extra bulbs, as I ordered about 30% more than I needed to make sure I had spares.
I've had 2 or 3 failures out of the entire house over 2 years now, so its about the same failure rate as traditional bulbs. I blame some of that on Eskom though - power is on / off and voltages spike occasionally throughout the year (I also have monitoring equipment hooked up to check on that, as I installed solar panels last year)
Still, it worked out to be massively cheaper than buying locally. This year, not so much though, as the rand has dropped in value
If you have a light fixture with several bulbs on it totally makes sense.
eg I have a number of chandeliers with 8 bulbs on. At 40w a bulb, turning that on was 320W an hour.
With LED's, I got that down to 24W. The amount of light emitted is about the same also. Its really worth it to replace stuff like that, and downlighters (eg the ones in kitchens).
Work out what the major users of power are, and replace those first!
Some photos of the bulbs and stuff:
http://www.flickr.com/photos/sheedl/8112133628/in/photostream/
http://www.flickr.com/photos/sheedl/8112124595/in/photostream/
Entire shipment
http://www.flickr.com/photos/sheedl/8112128370/in/photostream/