While the fixture manufacturers have some catching up to do, LEDs are already nearing the limits of the laws of physics as far as how much light per electricity. Example: the Cree XP-E royal blue LED that all of us DIY are using, puts out 500 mW radiation @ ~450 nm when you feed it one watt of electricity. That's turning 50% of the electricity you give it into PAR. Over the next however many years, it simply wouldn't be possible to develop it to a point where it is putting out more than 2x as much light per watt...
LED is nowhere near the limits, the XP-G we're using now, is rated at about 70-80lm/w at 750mA, while the newly released Cree XM-L, can do up to 140lm/w at 1500mA, that's already a 200% brighter than the current technology.
Cree had already developed the 200lm/w bulb which will be available to the public in another 6-9 months - that's ALREADY 300% higher than Cree XP-G in terms of lm/w output.
I've had a lengthy discussion with friend of mine who's a PhD in EE, he told me technically LED development would start to slow down at about 280 lm/w and eventually hitting the limit around 300-400 lm/w, however some recent development suggests that the physical barrier should be even higher, at 500-600 lm/w.
Only time will tell what's the physical limits of LED technology.
Like I said they are not ready for prime time.
Led fixtures need to come down in price by a half. Also everyone should come with a controller that will let you do sunset / sun raise. Have user replaceable bulbs when they burn out. It will happen over a reef tank. No way all the LEDs with last 5+ years.
When you start seeing LED at major websites and not these fly by night sites that are just set up to sell LED to us.
After looking at a DYI set up with LED, I would have be using more power than my t5s and cost that would be $500, since I got the t5 for free and replacement bulbs for my 92 gal corner tank I'm setting up.
At this time only really a DIY set up is affordable for mot reefers.
Do you ever own a dimming controller for your T5/MH fixture, or did the majority of T5/MH owners had that kind of functionality with their T5/MH?
Why then, do you think it's a mandatory requirement for LED to become prime?
It's all dollar and sense, if you can pay extra for the controller and dimming capabilities, then by all means go for it, otherwise folks like myself are perfectly happy with a much more affordable LED fixture without dimming, but that didn't cost us an arm or a leg.