MH has the advantage of being proven and plug and go. T5s are proven and sure do give colour pop. LED is like that 18 year old kid your boss just hired and all the old guys look at him and think " man, in my day..."
I'm not sure if your response was motivated as much by the sandbox put down as any genuine interest in advancing the debate or the cause of the pursuit of an ideal light.
What MH and T5s have are light outputs that extend way beyond the "peak" they aspire for, including those in the UV range, that current LED diodes being used in aquarium lights do NOT cover. thus, the fluorescence response to LED lights will not be as good as where there is harmful UV for the same corals. This is what LED light manufacturers have to build for - uncovered spectrum.
Here's a typical LED diod: royal blue - note the absence of output beyond the specific curve:
Here are some typical MH light outputs (fr Dr. Sanjay's analysis of XM bulbs) - note the output below 400nm and output in the entire spectral range:
So the coral fluorescence and coral colouration that is the visual attribute we all use to judge these lights are better due to broad spectrum output they have vs. LED diodes.
still, the "old guys" suck up too much power, have got all those problems of ballasts, reflectors, annual bulb replacements, heat, etc etc. that makes LEDs as new and still needing for improvement as they are, an exciting advancement and attractive for all those reasons. with research and economies of scale, LED diodes will be able to cover the spectrum that they don't cover yet. The technology curve is akin to the old TV "tubes" versus flat panel displays. As recently as a few years ago tubes had better colour rendition than the LCD. Recent advancements made that moot.
So, yes LEDs don't cover the far left spectrum yet, thus lacking fluorescence. But you can't ignore all the other advantages. And not all LED lights being sold are good for all corals - some are downright bad for SPS, the most desired coral in this community. Find the LED light that works for SPS, make sure you got the UV (<400nm) covered in sufficient quantity in your light combination, and you may have a lighting solution you can live with while enjoying all the advantages that LEDs give over MH and T5.