Wow that $120 is half my average total monthly energy bill for this 4 bedroom all-electric house in a cold climate!
What do you use for heating? Gas (said to be cheaper) not available here. And oil just too expensive and too much of a liability and maintenance expense.
A neighbour (also all electric house, as most are here) has gone all CFLs but says it makes very little difference to their electric bill.
CFLs make sense for outdoor locations so maybe when our long life incandescent burns out (after several years) will try one outside. Can't use CFLs in our two motion sensor fixtures, but those only come on for short periods when activated.