I attended a meet-and-greet with a lighting supply company a few months ago, and they said heat dissipation was quite a significant issue for LED replacement lamps for incandescent/fluorescent fixtures. It depends on the lamp, though. In one of our elevators at work, I installed screw-in LED bulbs, with 4 diodes a piece. They are finger-burning hot, like an incandescent. When we were ready to put LEDs in the other elevators, Phillips had changed the design to 3 diodes, and those don't get hot enough to cause any discomfort. (Not that I'm saying the number of diodes made the difference; just that it shows they had changed the product.)