I am pricing out lighting for a small theater and am considering the Optopod 80. I've read that the bulb life is rated at 50,000 hours, but I haven't found a place that sells replacement bulbs. Anyone know how much the replacement bulbs cost and where they can be purchased?

As they are individual led's on a PCB board, your more likely to replace the whole board than an individual led diode. You could get a replacement PCB from our service dept.

you do realize that lets say theyre on for 8 hours a day, every day.

thats still 17 years of burn time ;-)