Update from my end:
I've had the Cebu Sun over my 120 for about a month now. I'm using 2x 250w radiums on Hamilton M80 ballasts, along with two ATI true actinics, one blue+, one purple+, and two BML ~10-14kish strips for sunrise/sunset.
The difference in coral color between this setup and LED/T5 is absolutely NIGHT AND DAY. Many of my corals are showing colors I have never seen before, in particular pinks and purples. All of my Poicioporids are now showing deep magenta on their upper surfaces, my purple Digi is more purple than I've ever seen it with some metallic green flecks showing up in certain polyps on the upper surfaces, and everything is much more vibrant in terms of color.
I've also had a few corals that I had all but given up on after a tank teardown/reboot come back from the dead. I have a Forest Fire Digi that was down to a handful of rather bleached looking polyps, and has grown to recover about 90% of the skeleton that was exposed. A BN that I had grown from small frag to softball sized STNed down to maybe 5% of its former self, and all of the miniscule frags I managed to salvage have at least doubled in size of the past month. The same also applies to my Birds of Paradise BN. My huge (grew it from ~.5" square to multi-tiered and 12"+) red Cap was about 80% bleached following the teardown, and it has made a complete recovery.
To top it off, reduced heater usage ended up saving ~$20 last month.
To anyone contemplating the switch to MH, GO FOR IT.