I have talked about LED light bulbs around the home before on this blog, although I did not specifically address longevity vs "regular" (incandescent) bulbs. One of the marketing aspects of LED bulbs is that it is often claimed they should last 10 years in normal use - usually accompanied by a pesky asterisk.
As LEDs are still initially still more expensive to buy than incandescents and CFLs (curly bulbs), so you would want them to last a lot longer to recoup your money "on the back end".
The short version is that you probably should not count on an LED bulb to work for ten years - it may, but it's not guaranteed. For one thing, they tend to lose efficiency over time, getting slowly dimmer as they age. The 10 year claim is made under rather specific conditions, which may not apply to your situation.
Used in the right setting, LED lamps should certainly last much longer than a traditional incandescent, and longer than a CFL lamp. We have several LED bulbs in use around the home; all our outside security lighting is LED now, and we have half a dozen or so inside, mostly in table lamps.
Out of probably a dozen LED lamps, I have had two go bad, but they went bad quickly within the first couple of hours (likely a manufacturing defect) and were replaced.