But would it do better enough to justify the extra cost?Yes, that's all true. I'm just a little surprised that one can't do at least a bit better than 80% efficiency. Let's face it, with just a resistor (and a bridge rectifier), if one assumes 3 x 3.3V LEDs, one ought to get about 82.5%, the other 17.5% being dissipated in the resistor and rectifier, so one would hope that something 'more clever' would do appreciably better than that.