I've read statements to the effect that incandescent bulbs could rival leds for efficiency if infrared reflection was used to recycle heat at the filament or at the arc, is this happening?
A light that was more and more efficient at higher currents/ greater outputs would be fantastic. This would allow leds and incandescent to both develop and complement one another, incandescent for insanely hot/bright lights, leds for extremely efficient, cool, long running lights.

As it is I see leds losing some in their strong suit as they try to push more and more light out of them.

Any leads?