Just a quick observation,
How many tanks out there really are that deep? I would say the average tank is between 18" to 24" from top to bottom. Rarely are tanks deeper than 30". LED's can penetrate up to 36" without too much of a problem. I talked to Ike all about that issue at the Reef Fest.
LED's are the future of this hobby and the future of all lighting. They are now starting to build homes with all LED lighting. Think about that cost! But also think of how low your electricity bill will be and you will never have to replace a light bulb. You could even change the color of the light to set the mood for you and that special someone.

The only issue I have seen with LED lights is the colors of the corals, especially SPS, seem to suffer. I have LED's over my pico growing mushrooms and zoos. The colors blew me away to begin with but have slowly declined. The one thing that is hard with LED's is to get the full spectrum of lighting. I would like to see some of these companies throw in a row of pink, to help pick up reds a little better.
IMO the best lighting option is mix T5 and LED. Low electricity, GREAT colors, personalized look, low heat and best of all...low mercury! The one drawback is that you need to find a way to keep the LED's insulated from the heat. ANY heat will kills an LED's output.
Just my 2 cents.