If you guys will allow me to answer from a lamp perspective only (once the light hits the water - it's your responsibility

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First I want to say that I have also been impressed with the quality of thought that's been put into this thread. I happen to work in the lamp industry and I often tell people that nowhere will you find a more educated lamp consumer than in the aquarium market.
Now a couple of issues I'd like to comment on.
1. Color.
We measure our CCT (correlated color temp) in Kelvin. When a lamp is called out at 10,000K - it's assumed that a piece of metal that's heated to 10,000 kelvins will glow (or give off light) at approximately this color.
How this plays into this application has a lot to do with opinion and a little to do with Physics. Take a look at this graphic:
http://en.wikipedia.org/wiki/File:PlanckianLocus.png
The Tc(K) curve approximates color temp. As you can see, it's an exponential increase from 10,000K to infinityK. Typically it's very difficult (and rarely 'necessary') to measure color temp over 10,000K. Lamp manufacturers historically called anything over 6500K just a "blue" lamp. But reefkeeping has led to new marketing uses for higher K ratings. Most of these are not officially specified by the lamp manufacturer. Most Kelvin ratings over 10,000K are nothing more than "approximations" used to sell lamps.
On top of this, there are infinite combinations of halide combinations that can be used to create any single color. So each lamp company has their own "secret sauce" that they use to come up with any given color. It's the main reason that even 10,000K (easily measured CT) lamps from different companies have different colors and different PAR readings.
There is no "perfect" color combination that can be achieved. That's because color is a preference. It's what's great about having so many choices.
2. PAR
I leave it to you guys to debate the usefullness of the PAR measurements. But from the lamp standpoint - it's easy to see how the lower the CT, the higher the PAR. If it were only about PAR, everyone would use the 6500K lamps since those have the highest PAR readings.
The reason for that is that typically lamp manufacturers use Hg in their lamps to achieve the blue color. Hg gives off a lot of energy in the 365nM region which is outside of the PAR range. So it stands to reason that "bluer" lamps have a higher percentage of Hg in their fill, but less PAR since a lot of their energy is outside of the PAR specrtum (400-700nM)
I think I'll leave it at that for now. It's such a fun debate to watch because you have more choices in lighting today that you've ever had. Variety truly is the spice of life!
On a personal note - keep it up. It's this type of intelligent demand that challenges lamp companies to continually improve the product available to any given market segment. And as that happens, everybody wins.