You're thinking incandescent ligts. The whole reason LEDs are so sought after is that they are much, much more effecient, on the order of 90+% effecient
No and no, sorry. The only thing in all this that id regularly 90% efficient is a top quality driver. Not the LEDs. Its too hard to quote datasheets from my phone so for no I'll leave you with a quote from someone who knows more about led than either of us.
Even the most efficient blue LED dies still put out about 30% photometric power, and 70% heat.
I wonder if people will actually ever start to understand LEDs, or just keep listening to all this marketing bullshit maybe?