Short answer: Yes, I would much rather have leds than t5 or MH. For a whole host of reasons listed below.
Long answer: I like leds for many reasons that are way more about advantages for me than for my coral. No bulbs to replace, most of them run super cool, I don't need a chiller (I'm in SW Florida), I can ramp up sunrise and ramp down sunset, I can mix 6 different colors of light without buying or changing and bulbs and I can completely change the look of the tank at the push of a button (sunny, cloudy, all blue, moonlight, all red for night watching plus my custom sunrise/sunset/moonlight mode). The additions of t5's or leds I'm making now, or trying to make now, are for the corals at the back of my tank and to try and improve the overall look of the tank (more white up front and more blue toward the back).
If I had a canopy and was doing a new lighting system from scratch I'd do some combo of leds and t5's. I know a lot of people say that t5 'bounces' more light around so it gets into shadows and under coral better than leds do. There is no question that leds produce very parallel light from the top down and makes for serious shadows. But now I'm less than convinced that t5's really do that much better. Plus they need to be replaced annually, they reduce or eliminate shimmer and to my eye that make the coral colors look flatter or more pastel? I'd probably create a system where I could run either t5 or led completely alone and have enough light. Then I could run any combo I want.
But I don't have a canopy and I don't want one. I had one for 7 years and I like the clean modern look with my Reef Breeders Photon V2 much better. So adding anything is difficult because it starts to look diy clunky.
Currently I'm using the t5 fixture with the Bio Tek retro fit led 20,000K & UV at the back of the tank to light the corals on the back glass and I've moved the V2 more toward the front. Once Logan at Reef Breeders gets in the new blue led strips made to mount on the V2 I will get them and move stuff around again. Probably the blue led strips to the back and either the Bio Tek or the Giesemann aquablue+ to the front.