Yet LEDs don't really compete with CFLs yet. The article does mention that even a 60W incandescent equivalent is just experimental in LEDs, though CFLs have brightnesses at all levels even far past equivalence to 100W incandescents. Meanwhile, LEDs still generally aren't as efficient as their equivalent brightness CFLs. And LEDs' extra inefficiency puts heat into rooms that then require extra cooling, which consumes more energy.

Do you have any numbers to back your claims?
Considering only lightsource efficacy, LED's have passed CFL quite while ago: http://en.wikipedia.org/wiki/Luminous_efficacy

What are you talking about?
The efficacy of halogen light is about 20lm/W, CFL around 50-70 lm/W
The LEDs, depending of drive current (and make/model) 70-100 lm/W
http://en.wikipedia.org/wiki/Luminous_efficacy

So there's no way the halogen and CFL are far better than LEDs.
In fact, the LEDs combined with special optics have the huge advantage over the halogen,CFL and high/low pressure sodium lamps because of the precicely controlled light pattern. Conventional luminaries have usually reflector, which directs the light about to right direction, with efficiency of 30-70% .
In streetlights with LEDs it would mean no "hotspots" under the streetlight pole but evenly distributed light where it's needed and no unwanted glare, light pollution and etc. The even distribution means less lumens needed from light source. What matters is the luminaire efficacy.
http://www1.eere.energy.gov/buildings/ssl/comparing_leds.html

The 100W LED module from the original article is not very good for applications where the light distribution is crucial because there's no (good) optics for the large array of tightly packed emitters in one package. Similar situation as with gas discharge and fluorescent lamps where the light is not sourced from one point (LED die is usually around 1mm2 in size) but more like area. LEDs, such as Cree XR-E, XP-E and Philips Lumileds Rebel have huge selection of aftermarket optics available for different applications. The efficiency of the optics ranges usually around 80-95%.
Another matter is cooling of the LEDs. The 100W module definitely needs active cooling to dissipate the generated heat in order to maintain the die temperature below 70-80 degree in Celsius. Temperatures above that will damage the phosphorous coating and die which results in rapid degradation of light output.

The reddish light from high pressure lamps is not better for dark environments because of the spectrum. Human eye when adjusted to dark (scotopic vision) is most sensitive to 505nm light which is cyan. The photopic (daylight vision) peak sensitivity is 555nm (green).

Bullshit. This applies to very cheap LED's bought from China (or similar). Leading manufacturers like Cree, Lumileds and the rest claim 75% of lumen maintenance after 50'000 hours.