Need I say more...
Besides, residential energy consumption is only about 15% of the total and only 20% of that is lighting... AND efficiency can only be raised by so much - the problem in the end is not efficiency but overconsumption.
Indeed it helps to "keep the spirits up" and to give people the feeling that "they are doing something", they can feel "green" and shed some of the guilt that was laid on them - still, 85% of the energy goes not into residential stuff!
I'm not saying not to use LED lights - we do so at our home. But I'm just saying that one should not believe, that this makes a great impact (even if ALL people do this). People should not fall to the illusion that they have done a great thing by using LED lights and that this frees them of their duty to go far beyond that to help the planet.
Cheap lighting WILL allow poorer people to have more light and to use a tiny bit less electricity, it will allow average people to have a lot more light or use a littel bit less electricity - maybe it will allow companies to light supermarkets and stores cheaper - maybe it will allow them to build huge glowing and shining commercial signs or decorations to attract customers for cheap...
People just tend to use new technologies not to reduce their impact, but to increase life quality. Just as every advance in hard disk technology does not lead to people using less hard disks, but to put more and more data on them. I do that - I used to have one with my important data on it. Later I had my mp3 collection on it, even later I put videos, youtube-clips, tv recordings and huge archives of stuff on it - So I still have 3 HDDs in my PC as before, I did not reduce them, I just increased the amount of data I decided its worth storing as storage became cheaper. Just as with software - Imagine running a Windows 7 on a 10 year old laptop to browse the net - wont work. It requires more computing power which is cheaply available. Use Ubuntu and the old laptop is fine (though it may not look as nice and have not as many gadgets)