It seems from what I'm reading now that this 60W limit is not so much about electricity limit, but about how much heat the fixture bases can take. And if that's true, and LED bulbs generate huge heat at the fixture base, I may be in trouble.
This is quite true, but there are caveats. For instance, my ceiling fixtures say 60W only, no higher. However, they are embedded ceiling fixtures with a frosted glass cover. The 60W limit is not only due to heat, but also due to bulb burnout in an enclosed environment. I can put a 100W incandescent in the fixture, but it will die of heat exhaustion in about a third of the time that a 60W will last. With the CFL or LED bulbs, an infrared thermometer shows a significant captured
heat reduction. CFLs show less temp than the LEDs, but as was mentioned earlier, they're a lot more damaging to the environment. Well, at least we know that particular damage - LEDs have yet to be EPAed
I also used the IR gun on several desk lamps. Heat reduction, compared to an incandescent, has been fifty to seventy-five percent, depending upon the number of LEDs involved in a particular lamp.
Most telling point is that over a two (2) to three (3) year period, I've seen a significant reduction in the electric bill, ~20%-25% in winter and ~30%-40% in summer. That has made the conversion process more than financially attractive
Note: I know more than I ever wanted to learn about this because of a stupid question I asked once in an electronics class