This report documents a DOE study that evaluated the performance of several LED lighting products with claimed efficacies near or exceeding 200 lm/W. The purpose: to validate the claimed efficacy, determine the features or characteristics the products had in common, and identify any performance tradeoffs in luminaires reaching this very high efficacy level. All of the products were industrial luminaires with CCTs of 5000K, and all but one had exposed LED emitters. Overall, photometric testing yielded values reasonably close to manufacturer’ claims, yet evaluations by knowledgeable observers highlighted some key considerations – such as the importance of visual comfort.