ok...after talking to Tom, one of the best on lighting...i think i will skip the LEDs. They would be cool but i son't wanna do all that work and then regret it later. Here is his e-mail to me:
"LEDs are nice but I don't think it has caught up with halide yet. I havent seen a LED system that look better than halide yet either. So LED is not comparable to halide.
As for VHO and t5, VHO is hands down better than t5 when it comes to actinics. the only thing that I like from t5 is the blue plus bulb, this buld add another dimension to the vho and halide combo.
Having one bright spot is not very nice at all, you will hate it. you either go all led or all halide and then supplement them with vho and t5 blue plus. led do make great moon light though

I think soon they will come out with better leds at that time it might rival halide, but for now am not sold on led yet.
If you worry about energy then you might try 175watt iwaksaki 14k halides, these bulbs have the same par as the 250 watter and have a nice white blue tint color. If you pair them with vho and t5 your system will be sweet.
But on the other hand, you might be on the cutting edge about the led that I don't know about so please don't let me talk you out of it."
The 175 set up sounds good.....i just want to avoid a $300 PGE a month. back to the think tank.....