Wow old thread! In the end I would always use T5 if space permits. The color is always better than LED, the growth is similar, and bulb cost yearly are really not a whole lot in the grand scheme of things. If I were ever to set up another larger reef tank (I won't be) I would run an ATI led/t5 combo. The only thing the t5 is missing is the shimmer.
I have experience with ATI, TEK, and Nova extreme pro T5 fixtures as well as DIY (CREE, and Chinese), Radion, and Par38 LEDs. Just can't beat T5.