"The newer LED household lamps are indeed energy savers, and have a very long life.. thus repaying the cost of purchase many times over, during their life-span. "
In theory true, but in practical false for most of the cases. Because companies are willing to do more profit, they do not allow the full use of LED, or other "price saving" devices. Not any more.
To be sure you'll not be able to use your LED for their lifetime, they bundle LEDs with other devices, like batteries, or automatic switches, or whatever will be seen as a good idea by the consumer. Then the batteries go off after their normal lifetime, or the switch dies strangely very quickly, etc.
Because the LED and the failing device are a single piece, you have to change the expensive LED / "price saving" device.
Do you really think you'll use blinker LEDs on a car until the LEDs fail? Or LEDs on a flashlight... it's likely the motor and the fixed battery will be out before the LED, a long time before.
Marketing is made to have users think they will do a good deal, and will start saying to others that this is indeed a good deal. The truth comes when the users stop watching ads and actually use the device, i.e.... too late.
Show me a LED device with all parts repairable and available on the market when they fail, and I'll start saying that expensive LEDs repay the their cost.