My experience with T5s vs MH:
T5 pros:
-lower watt consumption
- light covers the whole tank
-easier to setup and configure
-better bulb choices
-light colors look better
-corals get better coloration
-lower heat
-xenias grow like crazy
-easy start off
T5 cons:
-SPS grow slower
-zoos don´t thrive well for unknown reasons
-some sps bleach, such as superman monti is hard to mantain its trademark colors
MH pros:
-SPS grow faster
-shimmering effect
-zoos thrive really well
MH cons:
-xenia melt even far from bulb
- hard to get full tank coverage
-intensities change depending on the location of the bulb
-to much heat
-to much watt consumption
This is what I´ve seen in the hobby, the real advantage of MH is growth, is much faster than under T5, but colors not always, so in order to have growth and coloration a good MH+t5 combo is needed.
Now its only a matter of experimenting with LEDs, I´ve seen better coloration u nder LEDs, don´t know about growth.