I am using one of these and found it to be good but not great. Before using this fixture I was using a 250 halide over the same area. I have a mix of SPS, LPS and softies in this section of my tank.
Color using the LEDs is really pleasing to my eyes. Growth has slowed and I am starting to see some Acros loosing color. I have two leathers under these lights and they have a lot less PE. Zoas, mushrooms and other soft polyps are doing well. SPS that are in the top 25% of the tank are doing well. The LPS coral are all located in the top half of the tank and seem to be happy.
My tank is 24" deep. If this light is over a 18" or less tank I think it would work really well. The other options is to be creative with your coral placement to get the best out of this fixture. It has three fans and they are a little noisy but tolerable.
I am building my next LED fixture using Cree XPG and XPE LEDs in hopes to drive the light deeper in the tank.