If you all want to see real spectrum charts for MH bulbs, you can go to reefs.com/lighting. These are not smoothed over like LED manufacturer charts, but are pretty raw with some spikes and rough spots.
I think that everybody knows that I think that LED is missing "something," but I also think that it has too much of "something." Other than just spectrum, 6500k source will have SIGNIFICANTLY more PAR/output than most of today's lighting, yet corals thrive. I have a theory that coral can take all kinds of light as long as they are not overwhelmed in one particular area - think sunlight with it's massive output, yet spread out. Attached below is a chart comparing the 250w Iwasaki 6500K to the the famous HQI (330w) 20k Radium. The 131 PPFD of the Iwasaki is 54% more output than the Radium (with less wattage) yet corals thrive. If anybody turned their Radions, Hydras, RB V2, etc. up 54%, stuff would fry. I think that the problem with diodes is that they put too too many peaks in just a few areas and they burn coral - we all know that there are some white diodes that MUST be kept low or else corals will die.
If LED did not have too much of "something" then why will going from 350 to 500 PAR burn the tops of acropora under LED, but if you did the same thing with T5 or MH (any temp of bulb), they just thrive more.
I will admit that I run 14k MH bulbs so that I do not have to supplement with any tubes. I make this compromise. Fortunately, the 14k Phoenix and 20k Radium (really more like a 14k than a 20k) also get good growth. I absolutely would have better growth with Hamilton or XM 10k.
Do not forget that lights both have to render color in coral, but also illuminate them. The best color rendering happens under daylight. The best illumination (for today's standards) is in the bluer range. This is why corals that have a good amount of 6500k when getting their color look great when placed under bluer lighting - just ask anybody who has gotten stuff from Adam... however, that color can fade when the 6500k source is no longer provided.