Not entirely convinced one way is better than the other. Perhaps we're getting caught up in semantics here with regard to constant current & constant voltage. Really what most of us want out of a LED is sufficient light of the desired spectrum and as a bonus, automatic dimming. Dimming is one of the best reasons for switching to LEDs since MH & Fluorescent technologies don't really offer anything effective in that regard other than adding or removing lamps/tubes.
Anyhow back to the point I'd like to make, constant current vs constant voltage. We know the maximum current the LEDs we have in our hot little hands can handle from the manufacturers' specs. So perhaps we should focus on that rather than what is 'constant'. After all, to dim the LED we are not feeding it a constant anything, we are varying the current/voltage by reducing & increasing them. The voltage/current relationship curve is irrelevant provided we stay within both those limits. How current or voltage are controlled really shouldn't make a big difference provided we ensure the parameters stay within the LED's specification. There are so many different flavours of drivers out there with constant as well as variable options for both current & voltage it's making my head spin!
Granted that in the event of a LED shorting out in a series string, the constant current driver will protect the remaining ones, but usually a burn out results in an open circuit & the whole string will go out regardless, leaving you with a dark string & having to isolate which LED cooked. And yes indeed, you better make sure your Vf does not exceed the LED's spec, or it's game over in a hurry. I just find all the calculations of voltage drops to find out what constant current driver I need for series string of x number of x watt LEDs is too much of a hassle for me. This is why I chose a stable 12 VDC power supply with manual dimmers to control my parallel 10 watt LED build over a series configuration with multiple smaller LEDs in a string. With the power supply & dimmers keeping the Vf seen by all of my LEDs at or below their maximum, things should hum along nicely with little danger of cooking anything.
My fixture's been up & running for 3 weeks with no problems. I still haven't done any current measurements on the individual LEDs (must do that at some point) & whatever minor variations of current between the 27 individual 10 watt LEDs exist, they have not caused any apparent problems. I've chosen to keep the power supply at 10 VDC (below the max Vf for any of the LEDs) & lower the voltage further using 3 dimmers. I prefer this approach rather than to overdrive any LED trying to get a few more lumens out of it, event with a constant current driver, you're risking a shorter life of the LED. If one or more of the LEDs in my setup burn out or short, there should be minimal impact on the remainder since the Vf will still be lower than max & I'll be able to replace the bad LED fairly easily well before there's a danger to the others.
Lasse, your link the the Cree document was a great source of info. What I found most interesting there were the charts relating to how temperature affects LED performance. Quite drastic once things get a little hot. Kind of makes me glad I chose individual heatsinks with fan for each LED. So far I haven't run any of my 10 watt LEDs at their max Vf, but any time I've touched a heatsink or mounting rail, they've been cool as cucumbers. Now if I could just figure out a way to change my manual dimming to something automatic.......