I'm happy with my new LED's. My Halide/T5 gave less light to my eyes and much more heat/electricity. I have a 300w LED fixture with 100x3w LED's. Separate plugs for blue/white. Its a pretty awesome fixture, has to be the best I have ever owned and I have been reef keeping for over 20 years. Corals and inverts love it too!
The LED fixture I have cost me roughly $240. The older Halide/T5 fixture cost about $350.
My LED fixture takes much less electricity and gives off much less heat. My chiller runs much less now, thus saving even more electricity. And my monthly bill is insane as it is. I am an lucky guy because my wife lets me indulge in my expensive hobbies with no remorse.

I am sorry but I wont go into any scientific mumbo jumbo, I can, but don't have the desire.
The LED fixture simply looks brighter and makes the colors of my corals look enhanced, greener greens, pinker pinks, reds pop, etc... While with my Halide/T5 fixture the colors were much more bland. Everything has always been healthy, but the LED's seem to have improved growth for me. I may have just chosen a good LED fixture and had a bad Halide/T5 fixture.
But with my experiences, i wont be switching back, ever.
Some details about my LED fixture:
•Spectrum of Light: 450nm and white 10000K
•True Royal Blue Spectrum:450-452nm,Cooling White:10000K
•The range of power consumption under 110V: 212W-222W,220V:202W-211W
•LED Lifespan: 50000hours
•Every led has a protective diode, so if one goes bad the light will sill work
•Below the LED is a Heat sink and then 2 high-speed rotation fans.