Interesting that you're throwing this stuff around

Interesting that you're throwing this stuff around, but aren't looking at the basic's of the situation.

This has little to do with circuits and more to do with the amount of light being emitted from the LED that ultimately ends up getting through the color filter to the viewer's eye.

The yields of Cd-free dots vs Cd dots just isn't the same. The FWHM of each is the main culprit right now. Quantum Yields measure how much of the original light going into the dot is emitted at the maximum wavelength. The higher number of photons being emitted would equal higher efficiency. It's well know that the quantum yield of Cd-free does not match that of Cadmium when comparing dots like for like. The other culprit is the FWHM. If you are putting in 100 photons, and getting a quantum yield of 95%, it might look good, but if 50% of that is not at the right wavelength, you're wasting energy. The key is to get as many of the photons to emit at the desired, maximum wavelength, so you are not wasting energy on that. Cd-free are known to have MUCH greater FWHMs than Cd. Which is where a lot of energy loss is.