I went from MiLight to Hue bulbs and the differences in quality and range of colours is very impressive.
Very rich colours with silky smooth transitions.
The LIFX are more power hungry at 17w with the Hue at 9w
There is a detailed comparison here http://arijaycomet.com/2015/10/21/tested-an-epic-comparison-of-smart-light-bulbs-philips-hue-versus-belkin-wemo-versus-lifx-versus-ge-link-versus-tcp-connected-versus-misfit-bolt/
And a Reddit thread here Reddit - The heart of the internet
I opted for Hues over LIFX because of the third party support (in the form of apps, and tools on github) and the lower power consumption.
Expensive, yes. But i do think for the primary “illuminated” areas where I spend most of my time (my office, and the living room) they are worth it. But not essential for low traffic areas where all you need is a light to walk up the stairs etc 