My 2 cents:
I've used gen 1 radion pros since I started my tank up on April 15, 2012. They're the only light any of the SPS in there have been under while in my care, and the only light *most* of the LPS in my system have been under.
I think the question of whether or not LEDs are capable or growing beautiful corals long term is well and truly answered at this point:

That's zero re-touching in photoshop because I couldn't operate that program if my life depended on it. I chose that one because it's the closest to real life I've ever been able to get in white balance using my iPhone (the cabinet actually is white in real life), but I'd say the camera sensor still 'blue washes' things compared to how it looks in real life.
However, that's not to say LEDs aren't without their challenges or shortcomings, but it's just like anything, they have strengths and they have weaknesses, and whether or not you decide to go with them is really a matter of personal taste. For me, I wanted something that fluidly changes brightness and colour tone over the course of the day. My tank has a sunrise, mid day, evening, and sunset. It makes the tank dynamic and no coral in it looks the same for the whole day. I love that feature. They're also completely enclosed in an cabinet so heat was an issue and meant halides were off the table. The grow coral very well, but yes, they absolutely have an effect on coral colour. But the kicker is that coral colour and how we value it is 100% subjective, so if you don't like what LEDs do to certain corals, don't use them. But that's 100% a personal preference, and not a universal statement about the worth or effectiveness of the platform.
The cons -
1. I can't grow certain species of LPS under my radions to save my life. They bleach out and die. I've got no chalices, and brains suffer terribly in my tank. However, under a kessil 150 ocean blue in a pico tank, those exact same bleached brains recovered their deep, lustrous colours, so it's not LEDs per se, I think it's the power of the fixture and the colour blend that I have chosen to promote shallow water SPS growth and my own personal taste. I'm fine with that, this is not an LPS tank. If I wanted brilliant chalices and open brains, I would play around with the colour ratios until I found one that did not bleach them out but still looked good to me, but that's not what this tank is about.
2. SPS change colour under my lights. That's just a fact. It's likely a combination of my lighting and nutrient regime, but some corals that look awesome under T5s do not look awesome under my tank. In the same breath, some corals that I have received as 'throw-away' specimens from the LFS (grown under halides or T5s) that no one would have ever bought have turned out to be complete show-stoppers in my tank. Moral of the story you simply cannot make a blanket statement of "all LEDs do X to all corals". That will never be true.
Do those cons outweigh the reasons I like LEDs for this tank at this time? nope. Will I try something different on a future tank? probably, I'd like to try everything!
And just like LEDs have a differential effect on coral colour, so do Halides vs T5, or different colour temperatures of halide bulbs, or different combinations of T5 bulbs. It's not like T5s and Halides are off on their own with identical results that everyone universally agrees are 'better' and LEDs are off in a different corner altogether, every lighting system produces different results with different personal tastes dictating what individuals prefer. There's a lot of factors that go in to choosing a light, and how corals respond to them is only one element of a complex decision. If for you the only metric you go by is having corals that look exactly like corals grown under a high-end T5 fixture, it's disingenuous of you to switch to LED then call the platform a failure when the corals morph to look the way corals look under that particular blend of LEDs. Same goes for people who think the 'best' looking coral is one grown under X brand of halide at X colour temperature. If that's your Big-O, then you're pre-disposed to be disappointed in LEDs because yes, they will look different.
My decision making process includes more than just a comparison to particular species of corals under particular lighting regimes - aesthetics of the whole tank are important to me, for example, so there's no way on earth you'd ever catch me hanging a hideous boxy reflector over something if you could see it from anywhere, so what the corals would look like under it is entirely a moot point.
Where I think LEDs have room to grow is for the people who make them to figure out exactly what it is about them that makes growing certain species of corals under certain brands of lights such a challenge. I'd like to be able to have chalices in the same tank as my SPS the way people with halides or T5s can without needing to mess with the program in a way that could compromise my SPS, so there's definitely room to improve. But overall I wouldn't switch for that reason, not now and not on this tank at least.