I currently run all three types of light.
Over my large tank I have MH and T5s.
Over one of my frag tanks I have t5s
Over another I have LEDs.
Of them all, I prefer the T5 MH combo- but would not suggest this as a combination for you.
I think you would be fine with LEDs, but I do not see the same growth under them as I have seen with my T5s. I have also burned corals with a set of LEDs, but that unit was the 6 foot solaris wihich runs several watts.
The LED unit I use now is a maxspect, it works well and is a nice looking system. You can likely build something quite similar. What I would suggest is that if you like a shimmer in the water then you incorporate a few large LED chips into the system to give a few point sources. These will add that nice ripple to the water.
Should you wish to come see the individual set ups I have, shoot me a PM and come by and you can see pretty much side by side comparisons.
Regards,
Paul.