I think, when discussing hydrogen, we focus too much on the hydrogen that is generated from electricity. There are other forms of generating hydrogen. I'm not 100% sure of the processes in these chemical reactions, but check out : http://www.millenniumcell.com/fw/main/Overview-27.html and http://www.millenniumcell.com/fw/main/How_it_Works-31.html
This company has a system which you use Sodium Borahydride as the base fuel, add water, it releases hydrogen and a Sodium Boride. Then you can replenish the Hydrogen in the Sodium Boride in another chemical reaction. I'm not sure what that reaction takes, so in the end, may have the same efficiency problems, but I think it's promising as an alternative way to get hydrogen to the fuel cell.