I personally would go with T5 supplemented by LEDs. I don't think the LEDs have the PAR/PUR that T5s have.
I put some LEDs on my BioCube, 30x Royal Blues and 15x Cool White. Be careful, I was getting 1k PAR at the top of my tank. I got my first SPS, started in the sand, then over a week or two I slowly moved it up. I ended up almost killing it.
If you do go with LEDs make sure you check the PAR.