I have seen a few led failures before, but the drivers, fans, and cases are still growing strong for me. 24/0 for ~18 months now.(7 months as conversions)
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For the eBay Mars leds, $.50 per watt is a priced right for what it is, and on their own performed as well as equal watts HPS for me, but I have done no "controlled" tests. Just growing autoflowers from in dirt here. But for that price it is disposable, like HPS bulbs. I wouldn't recommend the painted black Mars lights to anyone, at twice the price per watt, they fail just as easily as the cheap ebay ones.
Now DIY is definitely better. And going DIY you can build higher efficiencies and actually save electricity, which will pay for the cost to build it(typically around 2 years over SE HPS at 12/12, $.12kWh, and paying $2/watt for a kit build) if this is for veg only expect even faster ROI since the lights are on longer than 12 hours.
300w of cobs at 50~55% would be enough to flower a 3'x3' pretty comfortably.