I've used T5 since the beginning. Some day I'll probably switch to LEDs but honestly I don't think I'll ever use MH.
There are plenty of success stories using a 3 technologies and various combinations, so anything can work. Clearly, MH's are tried and true, and there are people with established reefs that have been using them for years. I can't blame those people for sticking with them, but the heat and energy consumption are what rule them out for me. Even here in Minneapolis, I end up running some fans on my tank for a couple months during the summer - and that's with the A/C on. MH would make the temp that much more difficult to control. For people further south I would imagine that MH vs T5 or LED would mean the difference between needing a chiller or not and at that point you're looking at significantly more energy consumption use that I would have a hard time justifying when there are other viable methods.
I agree with Greybeard - LED technology is still maturing, so we have yet to see what it will be. There are relatively few MH fixtures and bulbs, so it's easy to know almost exactly what you're getting. With LEDs there can be a lot of variability between different fixtures depending on the specific types of LEDs used, number, configuration, lenses, driving voltage, etc. Add to that apps that give you a near infinite variability in different channels and you've got a confusing picture indeed. The latest Kessels look nice but I've got other things to spend money on right now. Maybe some day...