To get the equiv. lumens of a 60Watt incand. bulb, you need at least 6 or 7 of the most efficient LEDs. (much more performance than flashlight LEDs) TYPICAL current cost of these is about $1.20 each. That's almost $10 (COST!!) WITHOUT the optics, housing, heatsink, connectors, profit margin and a full switching AC/DC power supply to convert from mains AC...
full switching power supply not required, just a bridge and voltage drop resistor/filter cap since the current thru/voltage drop accross the LED's would be a given constant requirement.
Care to sub-contract for me? Actually, you want to drive a series string of LEDs with a CURRENT, not a voltage. That's because miniscule changes in voltage cause large swings in power dissipation.. Also you need a switching power supply because you can't drop from 120VAC thru a bridge without a transformer. And the efficiency hit of using a "linear" supply approach would kill the efficiency advantage of the LEDs. Also because you'd generate a lot of heat in the process, and the supply needs to be in the base of bulb without normal convection cooling..
Hey USCitizen -- I WISH --- it was that simple...

I'd be done by now..
If I tell you guys any more trade secrets -- you'll have to hire me....