Right now LED bulbs available for consumers offer no real efficiency advantage over CFL.
A BR30 LED 65 Watt equivalent LED bulb uses around 15 watts the same as a CFL bulb. The LED bulb cost around $35, while the CFL cost less than $10. You will never make your money back on the LED bulb.
That's more or less true. Other intangibles might make it worth it for some people, like the faster turn-on time, lack of mercury, longer life, better cold weather performance, dimmability, and more robust bulbs, but as far as pure energy savings go, right now LEDs aren't as good as CFLs. Of course, that will change as they get cheaper, but we're not there yet.
I have 3 LED bulbs in my house: one that I bought just to see how good the color spectrum was ($20, and sure enough it looks JUST LIKE an incandescent, pretty neat), and two that I use for a 12V emergency power system (they were cheaper than 12V CFLs, thanks to the aftermarket auto industry). But I probably won't get any more unless they get cheaper, or someone finally comes up with a VIABLE alternative for a standard incandescent 75 watt floodlight. Haven't seen one yet.