Which company did you end up buying?
To make a short story long. The LEDs I got from ebay looked kind of like I was putting things under a black light. Not really that bad, but heading in that direction. The color temperature just didn't look natural. Although others seem very happy with them here, and the guy selling them (Paul) was a total pleasure to do business with. He took a return with no problems at all and apologized that I wasn't happy with the unit. I wish he carried other brands/products.
I think it might be a matter of luck if you get one that has good color or not depending on which batch of LEDs they used in China to make the unit. Thats just a guess. The ebay unit also didn't have any lenses on the LEDs. They are just open LEDs mounted on a reflective backing. So some of the light is wasted out the side of the unit, and there is not a lot of penetration to the deepest part of the tank, which is an issue for me given my tank is 30" deep. I probably could have made the unit work for me by fooling with the mix of VHO bulbs, but my original objective was to replace all my lighting with LEDs.
The units I found at the LFS are EcoRays. They come in two flavors 112 and 60 LEDs per unit. First the color temperature is very much like day light shining off a shallow reef (I scuba dive so I know what it looks like). They also have lenses on the LEDs so the light isn't wasted, and the bottom of my tank is very bright. LEDs tend to be bright directly under the units but then coverage falls off quickly. With the Eco Rays (as I suspect with any other unit using optics) the coverage is wider because the LEDs are spaced further apart, (the unit is physically bigger) and because of the optics I can mount them higher above the water and still get good penetration, so the coverage is quite a bit wider than the ebay units. The bad news is that ecorays are about twice as expensive as the ebay units. I guess if you didn't need a lot of deep penetrating light, and wanted to take a chance on the color temp, you don't have a lot to loose by trying the ebay units given the great service, but obviously I think the ecorays are worth the difference in price.
Just one note. What I found is that LEDs (in both cases) give a more harsh look than MH. Very bright like MH, but with out the softer edges that MH provides. So to get a more natural look, even with MH, it makes sense to have a lot of water movement at the surface so you get a nice natural look of sun reflecting off the reef.
I hope that helps.