I will be the first one to say that this test is far from perfect because of the varying color temps and the varying output patterns, but it can be used as a very general guide. I was able to control the other variables very well. The measurements were done pulsed at 23C, 5.25" away from the light sensor. LED dissipation was measured precisely and worked into the results.
Generic 3K bars @ 160mA: 1490lux/W (1.85W diss @~40% efficient = $4.40/PAR W)
Generic 3K bars @ 370mA: 1188lux/W (4.68W diss @~32% efficient = $2.17PAR W)
Generic 3.5K COB @ 300mA: 1250lux/W
Cree 3.2K XTE R3 @160mA: 1736lux/W
Cree 3.2K XTE R3 @370mA: 1497lux/W (130lm/W expected from PDF)
Cree 3.2K XTE R3 @1470mA: 834lux/W
Vero10 2.7K @ 150mA: 1871lux/W (135lm/W) (3.88W diss @ 42.9% = $2.80/PAR W)
Vero10 2.7K @ 370mA: 1610lux/W (115lm/W) (9.81W diss @36.5% =
$1.29/PAR W)
Vero10 2.7K @ 1490mA: 962lux/W (69lm/W) (47.38W diss @ 21.8% efficient = $0.45/PAR W)
Vero29 3K @ 100mA: 2381lux/W
Vero29 3K @ 150mA: 2365lux/W
CXA3070 3K AB @100mA: 2522lux/W
CXA3070 3K AB @150mA: 2514lux/W
CXA3070 3K AB @370mA: 2417lux/W (188lm/W) (12.37W diss @ 57.8% = $5.60/PAR W)
13W 3K CFL with partial reflector: 441lux/W (warmed up)
The $1.50 generic bars performed surprisingly well compared to the top bin XTEs, although the XTEs are not exactly cutting edge for Cree these days. Despite the surprising performance of the generic bars, t
he Vero10 was able to beat them in cost by a large margin AND maintained a higher efficiency.
I put the large COB results in there just for the heck of it, but of course it is not fair because they are being under driven to the extreme. Personally, I don't mind paying $5.60/PAR W, I have paid much higher in the past for a lot lower efficiency.
Out of curiosity, at the end of the test I put 1.5A into the generic COB and it
burnt out within 10 seconds, despite being perfectly cool. I guess there is only one way to find out how much is too much. The Vero10 does not seem to mind the 1.5A current other than losing half its output to current droop. I let it sit there until I could smell the outgassing and it was so hot I could not touch the heatsink for more than a split second (55C+). It maintained its output surprisingly well despite very insufficient cooling (-20% to temp droop). Of course if you were to use the Vero in a growing lamp using sufficient cooling it would run just fine and stay cool.