I have been following this thread somewhat, although I haven't had time to read all of it I see that many of you are missing a very big point.
People are going on and on about the reflectors being inefficient, or how he could replace all of those small bulbs with one large one. The reflectors this guy is using do EXACTLY what he wants, especially when used with small, aimable lights.
Ask yourself why people don't like perpendicular reflector mounting.
The reason is because it focuses the light much more than horizontal mounting. It's not that you lose so much intensity, but that the intensity of the lights is focused on a much smaller area. If you are trying to light your entire aquarium with one or two bulbs, then this sucks.
However, if you want to be able to control which areas of your tank get what light, this is perfect. This is the point of so many low wattage lights. Not only does he want perfect spread, but he wants to have control of it.
Imagine, instead of mounting a coral where it gets appropriate lighting and may not look best, mounting wherever you want and adjusting the focus of your lights to suit that location. Instead of having an all SPS reef and having too much light for anything else to live you could focus the light on the animals that need it and still have dimmer areas with different lights focused on them.
This also doesn't even begin to address the color issue either. In almost every single "I've switched bulbs" post I have read, the person mentions one coral that looks better, and one that looks worse. Maybe more. So why not have the best of all worlds?
You can call it a total waste, but then if you look at it that way, so is a 20K bulb. All it does is make things look better, it's not any better for the animal than a plain 5000K MH.
