I have an AMC-based driver, 2.8A - here's a picture of it dropping 5V to 3.2V.
Yes, that's at 150 degrees! Board surface at well over 100 degrees. Cooler bits were solder areas, so reflective to IR. (Efficiency wasn't important for the project and I was feeling lazy when I designed it - it worked fine. I'm going to redesign the driver with a nice buck converter and run the LED at its full power, once the project has been marked)
Heatsink these well when dropping voltages - or you'll have burns to show for it. The chips all work fine, though. At that point, the thermal limiter had kicked in and dropped the current to maybe 700mA vs the theoretical 2.8A.