The power savings, and don't forget the cost of regular bulb replacement. I'm coming up on three years with my DIY setup, and at the time I was planning the build, I felt the payback time for my total cost was in the three year neighborhood. I based that on replacing 2x 250W MH bulbs @ $60 - $70/each, and 2x 96W PC bulbs @ $30 - $40/each on a regular basis as foreseen maintenance.
At the time I had a 4'x2'x2' RR 120 with a monster purple monti cap on the right hand end viewing from the front. It grew to the surface with the closest point being maybe 6" from the MH bulbs themselves. With the switch to LEDs, that particular coral continued to fill out the end of the tank and was a bright florescent purple even with the lights off. I don't have a pic that does it's size real justice, but it had encrusted the RR overflow where I continuously chipped it away from the overflow slots at the top, and was to the point I couldn't get my cleaning magnet fully between it, and the front glass...
With metals halides.
With LEDs.
IMO either lighting source can provide success. The shimmer from the LEDs is busier, and more diffuse from the LEDs due to 96 point sources vs 2 with the old MHs I had. In that respect I think I like MH better. Far out weighing that for me is the ability to control intensity, overall color balancing, dusk/dawn effects, low cost of ongoing maintenance and power consumption, and etc... with the LEDs.
I read about people claiming the technology isn't there yet for LEDs. It's my opinion that bus left the station 3 or 4 years ago with my ~3 years of success to back up the claim. Sure there are substatial up front costs, but compare all of the ongoing operation, and maintenance costs you can foresee and I think you can make a sound, informed decision on the question "LED OR Metal Halide?"