Well pretty clear that the market hasn't brought the price down yet, but i think you hit on a good point about the value of the lamps.

If you have led that is giving you 5 times as long a lifespan and costing a fraction of the cost to operate compared to hps, it is worth the higher cost.site

I came across an interesting calculation of the cost of led versus hps at http://www.growrevolution.com/files/casestudy02.pdf

According to this chart, depending on the cost of electricity, with these lamps you are gonna save 38% to 47% just on the cost of powering the light not counting the additional savings from cooling. So I guess if you have to cooll too you will save well over 50% to run an led versus the same hps.

Probably better to just pay the cost and consider it an investment rather than waiting for the prices to come down to hps -- your still ahead if at the high prices of today.