I used a combination of two 250 watt MH and 4 T5s until a few years ago on my 140. I "had" an SPS tank. I will soon be going back to that combination. Tired of fiddling around with blue, royal, white, red, green and yellow LEDs. If you want softies and LPS, then yeah, I would stay with LEDs. To me, nothing grows colorful SPS like metal halide lighting though. I know my tank looks nothing like it used to, so I am going back to my old school ways. A very costly experiment, when I should have stayed with what I had.
I do still have my chiller, but when I had the same lights on my 75, I only ran fans in the canopy and on my sump. My 75 ran about 82° - 83° and there were no ill effects from temperature. Stuff was growing like weeds. So, it is not really always a necessity to have a chiller. It depends on how the lights affect your individual system.