While not as dramatic or as expensive as these efforts, I got to see first hand what one small island was able to do in restoring their reef. This effort was in St. Croix, specifically in Cane Bay. They started with stag and another SPS (Madracis auretenra).
Here's a couple of pictures of their coral farm...
These were all started as 3-4 inch single branch frags
An example of a transplanted colony about a year back on the reef.
The other species they're working on and an example of the rapid recovery after a recent hurricane
Literally acres of regrown SPS after the hurricane damage.