If the spectrum is good, and there's no flicker, I think this could make sense in the kitchen or hallways. I haven't been that pleased with the LEDs I've seen but they are still better than CFLs and show more promise.

In the living room or especially the bedroom and bathroom, I prefer dimmer lighting with less blue spectrum. My 29W halogen incandescent on the night table doesn't exactly burn through a lot of electricity and has the most pleasing light in my eyes. Until there's a LED that can perfectly match that, I'll stick with that until these bulbs get banned, too.