The prices have certainly come down now. Most lamps and fittings are a third of what they cost even just 2 years ago.
The main problem with LED is that smaller companies were (and some still are) offering 5-7 year guarantees, making it seem like LED was very reliable. When that just isn't the case yet, not for commercial use anyway.
Any reputable lighting companies (thorn, philips, dextra etc) offer a more realistic 2-3 years on most products and 5 on some of those that don't require a driver to run which is the part most likely to fail quicker than the LED itself.