I follow you here. You are right about HID lighting being the best bet for the money. I can't argue that LED lights in general are way over-priced as well. There are circumstances that exist where LED lighting is at least an effective "alternative" to HID.
The real appeal of LED lighting (to me) comes with its stealth attributes. Even the heat from a 250 watt HPS is too much for my area unless I was to run big obvious ducting(this would bother the wife). The other option was to keep the door of the tent open during light on, this results in a big obvious light that brings the entire closet and adjoining bathroom up 10 degrees to about 86 (this one really bothered the wife).
So for me the answer has been LED and CFL lighting.
And JuiceBox, I only stated that
Watt for Watt the LED outperformed the MH, which is a true statement and in no way proves myself wrong