Unless it's a clever/expensive one which looks at instantaneous voltage and and current very frequently and then integrates the vector VA product to get power, it will be assuming a perfect sine wave current, which I imagine is probably not the case with and SMPS
Maybe.
Well, for a start, I thought you said that the 'heat' was the same. Whatever, how do you know that the heat is being dissipated in the lamps, rather than in the SMPS - did you perhaps measure the lamp temperature?
If it is in the lamps their life will be shorter. If it in the SMPS its life will be shorter. Either way the efficiency is a lot worse.
I have, in the past, deconstructed some LED lamps, and cheap ones often just have the rectifier and a resistor (and often a pathetically small reservoir capacitor). I also suspect that 'dimmable' ones may be the same (regardless of price), since that is presumably the easiest way to facilitate dimming.
I have deconstructed 240 volt ones and some are as you say. But I meant I hadn't deconstructed 12 volt ones. Just consider the size of a capacitor needed to drop 12 volts to 3 volts at 0.45 amps, 50Hz. It is well over 100µF and it can't be electrolytic. So they most contain a SMPS, particularly as most can work at DC or 50/60Hz.
In any event, when there are losses, they result in additional heat being dissipated in the rectifier diodes, not in the load as you suggest (or is that perhaps what you meant when you said "in the lamp"?).
Indeed the rectifier diodes are part of the load.
