Have you seen the new Philips Par 20, MR16 and Par 30 LED lamps?
The Progress LED recess trims are about $75 each and look much nicer than the Cree.
The Progress also has the replacable driver (ballast), the LED's may be 50,000+ hr but I'm sure the driver will fail before that happens.
Sproink:
Forgot to mention the Lightolier, that is a really nice product which doesn't require factory start-up.