LED technology for the reef application is already here, just not available to the general public as of yet. What I see as the biggest detractor is the cost right now. Here is some LED stuff!!!
Osram Diamond Dragon LED emits 250 lumens @ 1.4A and SSC P4 LED emits 240 lumens @ 1A
LED Colors â€"œ 380nm to 700nm
Custom LED Viewing Angles - 12º to 15º Narrow Angle, 20º to 30º Standard Angle, 45º to 50º Medium Angle and 120º to 125º Wide Angle
Custom (High Brightness) LED lenses for - Cree, Philips, Nichia, Osram and Seoul Semiconductor