IMO, coral does have photo-saturation point. Once we reach this point any additional light intensity will not help with photosynthesis. I presume that right under a 1000 W MH, under 10 inches of water, we will reach that point. That is the season that I will put my light high and use 12 hrs and lower it as I see how things developed. I think, but have not confirmed this with experiments yet, that the maximum intensity will help with coloration while long photoperiod will help with the photosynthesis for corals.
In my current reef, I have all 6X400 W MH on for only 2 hrs of the days, the noon effects. Most of the other time, only four lights are on, while early AM and late PM, only two lights are on. The total photoperiod of my current tank is 13.5 hrs. This is a 400 g 8 foot tank. IMO, my tank is doing well right now, but I need to change light bulbs. These bulbs are 1.5 year old.