My current DT was started less than one year ago with all live rock, and SPS corals have done exceptionally well in it right from the start. A variety of acros, montis, all have done very well. (In fact SPSs have overall done much better than LPS corals and even zoas in this tank. )
Another great thing about quality live rock is that will likely see much faster and more luxuriant development of coralline algae with it, not only on the rocks but throughout the tank. Pink and purple coralline covers every illuminated rock surface in my tank, and when I add new small pieces, they are also covered in coralline within a few weeks. I don't think I would be seeing this so soon if I had started with dry rock.
Coincident with luxurious coralline algae growth, other forms of algae have a much harder time getting established. I had one brief outbreak of cyano (due to overdosing amino acids), that's been it for bad algae in this tank.
Of course, drawback of live rock is that I've had to deal with my share of unwanted hitchhikers; aptasia, very small hydroids, predatory crabs, asterina stars, bristle worms, a tiny mantis shrimp.
I've just started my next tank. It's going to be more of a backreef, less flow, more nutrients. Lots and lots of anemones, clownfish, and shrimp. I'm planning on using almost entirely dry rock because I want to do more specific aquascape planning than I can with the locally available live rock. Since SPS are not a priority, the dry rock should be ok. I gave it all an acid wash with muriatic, it's now in a lanthanum chloride bath to remove as much phosphate as possible, and next I'll cycle it in the same brute with a heater, powerheads, a rock from the other tank, Seed & Tim's bacteria, and ammonium chloride. Only when it's cycled will I put it in the new DT. I then plan to take a lot of coralline from my other tank and spread it around the new one to seed it; keeping calcium/alkalinity up and adding a bit of strontium should also help. If I can get coralline algae established quickly, I hope to avoid the problems with bad algae commonly seen with dry rock setups.