Not really though. Only white LEDs are super efficient when it comes to lumens per watt (which is all but pointless for our application.)
When it comes to PAR per watt (assuming identical spectrums), LEDs aren't that far ahead of halides, if at all. For example, I ran 210w of LEDs over a 24x24 area and took PAR. Peak PAR and spread was worse than my 250w halide (which is running right around 250w.) Tullio has a great MACNA talk talking about this. (Or maybe he was telling me about it on the phone. I don't recall right now.)