.... Eventually we will be using LED bulbs ........ they are about 5 years away from widespread use
Your likely right about the five years.
I have three LED bulbs... though only two are in service right now. Mine cost about six dollars each, use 1.3 watts, emit about the same light as a 25 watt regular bulb (or 7 watt CFL). The light isn't pure white, it has a greenish-blue tint. The light is directional... sorta like a spotlight. Mine has a estimated life span of 40,000 hours.
There are much brighter, much whiter, much more omni-directional bulbs available
NOW. The cost is high, but only because demand isn't high enough to create a competitive market for these bulbs. You can buy the LEDs on-line, I haven't seen anything but "LED night lights" in stores yet.
I use one of my LED bulbs in my garage. The garage has a overhead (single) light-bulb that is turned on and off with a hardwired motion sensor. The LED lights the room enough that I am never in the dark, if I stay out-of-range of the sensor too long, and the overhead light turns off. The LED bulb also provides just enough light for my garage camera (an X10 wired low-light) and "backs-up" the single bulb when it burns out.