I do not know where you get your misinformation from, but BoostLED uses 3 watt Edixeon LEDs. 5x3 watt LEDs run at 2 watts a piece for a total of 10 watts.
Plus, stunners use 6 watts of power for 12x0.5 watt LEDs. Panorama modules use 12x3 watt Cree LEDs underdriven at 1 watt.
IMO the PAR38s would be better than the Ecoxotics, but overall 2 Reefbrite 50/50 strips would probably work best for you app and be the most cost effective.
Here is the BoostLED site:
http://www.boostled.com/products/par30-reef-lamps
I got my 'misinformation' from a couple multimeters.
Regardless of what power LEDs are used, the bulbs aren't 100% efficient: the amount of power consumed by the entire bulb cannot be the same amount of power fed to the LEDs. The circuitry in the BoostLED bulbs has to convert 120VAC to ~22VDC at a constant current. Considering the cost and space available in the bulb, a 20% drop in 'power' from AC to DC and a 10% drop over the constant-current driver are reasonable assumptions. That adds up to a 30% loss from 10W input which means each of the 5 LEDs is receiving 1.4 Watts and a total of 7 Watts of LED power.