I was looking at LED replacement bulbs at the hardware store the other day ($20 each). I am suspect as to their efficiency.
Get a Kill-A-Watt meter and test the power consumption of LEDs youself. All the ones I've checked have used just about exactly what it says on the package.
They have large heat sinks on the which get very hot. That is wasted energy.
They have heat sinks because the LEDs need to stay very cool to work properly. Incandecent bulbs don't use heat sinks because they need to heat up to thousands of degrees just to get a small fraction of the photons they emit into the visible range. Now which do you think is wasting more energy?
There is no way to pack an efficient transformer into such a small space.
I doubt that any CFL or LED on the market is using a plain 60Hz transformer. They're using switching power supplies, which can be very efficient. That's becuase they crank the frequency up to a range where a small transformer *is* efficient.
Houses need wired seperately with a lower voltage appropriate for powering LED lights.
You'd still need a switching power supply to match the low voltage to the exact needs and wiring pattern of the particular LEDs. That's why most every PC have a separate power supply on the motherboard just inches away from the main power supply to convert 5VDC to whatever the processor needs.
Not to mention the power loss of low-voltage wires. If you put 100W of LED lights (about 6 bulbs) in a room at the end of a 50-foot run at 5V, you'd be pulling 20 amps. If you used 14AWG wire, at 0.25 ohms for the 100 foot round trip, you'd have a 5V voltage drop just from the resistance of the wire. You would also be violating code, which would require you to install a dedicated 12AWG circuit just to power 100W. That's obviously completely unworkable.
In summary, all of your uninformed "gut feel" opinions on these technical issues are unsurprisingly wrong.