I have them and you can definitely grow SPS. Do not underestimate the par on these lights. On the blue channel I only run 50 on my 75g with 10 white. This leaves me with nearly 250-350 par midway down the tank with the lights on the brackets.
Pros: Cheap, long lasting, better build than typical black box styles, can grow anything, comes with mounting brackets and hanging gear, very quiet, pretty straightforward settings.
Cons: par drops rapidly once you measure spaces not directly underneath the fixture, actinic blue/purple is under the white channel which means you don't get as much coral fluorescence, white is a warmer channel than what I like (I am colorblind so what I see is not what you see), none of the fancy bells and whistles of pricier lights (like ramp up and down, individual color control, etc.
To sum it up, it is a great budget light and there really is not equivalent for the price. However, the poor spread can be an issue for corals in the middle of a tank if you have two set up light mine.