This is just my theory. I think a light would be more efficient if it is running at about 50 to 75% of its rated capacity. A one Watt LED with a Madmax would do that. A three watt would be under driven and might have a color shift. A three Watt Lux might last longer but over 11 years of continuous light out of a one Watt Lux is more than I can use in a lifetime...or two.
Just my theory. It would be nice if someone had both a one and three Watt Lux to make a comparison. Longevity comparison would take a while longer.