I am a huge fan of LEDs, I love the slow ramp up and ramp down in the morning and at night. I love how my tank glows under the UVs, Blues and Reds, I love the cost savings of not replacing 8 bulbs every year at $25-$30 each... I just wasn't getting the growth I wanted, and the tank always looked "dim" to me. Now I know a lot of that has to do with the LEDs being focused downward, which is good for the corals, but I want to enjoy looking at the tank as well.
I really do feel that the LEDs with T5 gives me the best of both worlds.