LED lighting is still far from perfect, even ideal. The main enemy of any LED lamp is heat. Enclose them and they die prematurely, sometimes very. Even semi enclosed is a problem, depending on the air flow, if airflow is restricted, like for example, an angle poise lamp, life is reduced. To achieve max life the lamp has to be in free air.
Most are not compatible with outdoor use, with some products even stating that on the packaging, I have proved this to be true, they die quite quickly.
Quality is variable and difficult to judge from appearance. If you buy Philips or a similar quality brand, then OK. Buying cheapies is a lottery.
I've found Ikea, Aldi, Liddle etc, which are low price, to be surprisingly good. I've stripped a few failed ones down and these brands have good build quality. The unknown one hung low brands vary from cr4p to as good as Ikea, Aldi & Liddle but you cannot know until tried.
And non, even Philips, get anywhere near the 10's of thousands of hours life claimed.
However, compared to incandescent and CFL, it's LED every time.
I visited a friend this summer, who I hadn't seen for many years. We were chatting in the evening and I'd noticed the multiple ceiling halogen down lighters in the kitchen and lounge, the conversation turned to energy costs and she was moaning about her bill. I asked her if the down lighters were still halogen, she replied she didn't know but they'd been in for over 20 years, so yes, they were. I did a quick calc on the probable consumption and it was around 1 to 1.3 KW with them all on!!! When I explained what that meant she said that they would be out the next week to be replaced with LED!!! She hadn't even changed the table lamps and other lamps to LED, she thought it wasn't worth it!