I have kept a few FOWLR tanks over the last 2 years and decided I wanted to set up my first reef tank. I'm starting smalls due to price and time restrictions of a college student but I just finished a DIY LED lighting fixture for over my 29g. I ordered all my parts off of rapidLED.com and got my heatsink from Heatsink USA.. I couldn't be happier with their products and service. Other than putting acrylic baffles into a sump... this is my first major DIY project i've done and it was extremely easy.
I am using Royal Blue, Blue, Cool White and Neutral White LED's over my tank along with 2 Moonlight LED's. Now I can go from Moonlights, to sunrise, to full power daytime, to sunset, back to moonlights and then pitch black and all over again the next day.
Although I don't have any corals yet, the tank has been established for 6ish months. And has 2 clowns and a firefish. As soon as I get some of my inverts out of my QT and into my DT i'll pick up my first coral and begin QT on it. I think i'm going to start with some zoas and LPS. (like frogspawn).
I am very pleased with the colors and dimming on my tank and although there are no corals in it yet, I expect they will do well under my lighting.
Again this project was very easy and probably cost me around $350ish +labor for everything!
I highly suggest LED's to all!