I have just seen too many people ordering massive numbers of LED's then saying they are only running them at 500 mA or dimming them way down because they were bleaching their corals. Says to me that we are all still learning and experimenting with LED's, and in general they are more powerful than we expect. With that said, I believe they are the future of the hobby, especially with how energy prices are just going up. We have only been playing with them for 2 to 3 years, and we are still learning. The other "problem" with LED is the benchmarks keep moving as the tech gets better. What worked for led's 3 years ago does not apply now. The XM-L's at 3000 mA will give like 1000 lumins for 3.3 w roughly, that is insane when you think about it.
I think adding more leds than is needed for par is a good thing for a couple reasons: better light spread and the leds will last FOREVER at 500 milliamps!