OK, let's see if we can keep this thread going.
It's good to be skeptical about cheap bulbs (or any piece of equipment), but you have to keep an open mind and be willing to try something new if the risk and cost are minimal. Since no one has left any kind of negative feedback on these bulbs, it appears the risk is probably minimal.
I was skeptical about the dirt cheap Dr. Holmes-Farley formula for supplementing calcium and alkalinity made with ice melt , baking soda and Epsom salts. A year later, I wouldn't give serious thought to $20-a-gallon B-ionic. The Holmes-Farley stuff works exceptionally well, and at just a few cents per month vs. $40 ($20 per gallon x 2) per month, this is one cheap alternative that was worth the risk. Heck, I'm scraping purple coralline from the glass twice a week.
Back to the bulbs. Yes, a lot of stuff from China is complete crap, but I've been using 14,000K bulbs from Taiwan successfully since August ($15-20 including shipping on Ebay). I 'm not cheap--I just hate spending a whole lot more than I think things are worth. I bought them as an experiment, fully expecting them to be complete crap. I was very surprised. As with any 14,000K bulb, the aesthetics are much better than 6,500K-10,000K's. However, a lot of my drab SPS have all colored-up beautifully since then, and the growth rate is great. My 2 crocea, zoanthid farm, LPS, ricordia and shrooms also love them. I'm fragging roight and left.
There are times, though, when you have to wonder why an aquarium bulb costs $100, when a common MH street bulb, which is pretty much identical internally and is made to operate in harsh temperature and humidity ranges, costs just a few bucks. The manufacturing process of both types is identical. The only significant difference between these bulbs is the material placed inside the bulb that emits light when energized. I can't believe that trace amounts of anything used in bulbs is all that expensive. Maybe scale of production is a factor, but not enough for price to be an order of magnitude higher. Even the ballasts for outdoor MH and reef MH bulbs are the same. The magnetic ballasts (e.g., M57, M58, etc.) that operate these bulbs are identical to magnetic ballasts used for reef tanks--a transformer and a capacitor.
I think the preference for name-brand bulbs comes down to a couple factors: 1) what the market will bear based on supply and demand; and 2) perceived value by the users. A lot of people assume that the more expensive the bulb, the better it MUST be. I'm not sure all of the name brand bulbs are that much better, particularly since you can find both fans and opponents of each manufacturer (e.g., the XM discussion in this thread). In the case of the Chinese/Taiwanese bulbs, time will tell, but so far, so good for me. At this rate, even if I replace them at 6-month intervals, I'll be $hundreds ahead at the end of a year. I know my wife appreciates my efforts to cut costs.
My 2, 3 and 4 cents (or maybe $15) worth.