I will stick with MH as long as I can still get lamps, right now I have 7 reef tanks set up, 2 are MH and is MH/LED, 2 are total LED, and 1 still has a Compact Fluorescent lamp that is pushing 7 years old, in addition I have 2 frag flats that are currently lit by LED, I will be swapping out at least one of the LEDs for a MH system as soon as I find the time. Overall I still prefer LED by a large margin, it does things that I just cannot do with LED for a reasonable price. In every case I prefer my MH tanks over my tanks lit by other methods.
To light my 480g SPS tank I currently use 4 400mh, 2 160wt VHO and have 1 Reefbrite XHO waiting for the other one to be sent back to me after having it arrive not working. The only reason I bought the Reefbrite is the VHOs are getting extremely difficult to get, and while the one is nice having a 50% failure rate from day one doesn't leave me hopeful.
My 1100g reef runs 6 400 wt fixtures, after doing the math I figure I would need 16 Radions and at their price I can buy MH lamps until I am dead, oh wait I actually recycle my lamps off my 480g SPS system onto this system for a second year of life as it is a softy/LPS system with easier SPS thrown in, so once again LEDs can't even remotely compete. Total cost to upgrade would be somewhere around $13,000, So far I have right around $500 into the lights for this system, electricity would be a wash since right now I don't have to run heaters on the system, the MH provides 100% of the heating I need and the water volume is large enough it carries through the night.
On my 135g I have 3 AI Sols, they are on their last legs and have all had numerous components replaced, I have a pile in the basement of approx. 6 other Sols that are dead in some way and I have been scavenging parts from. So lifespan for these is about 8 years, I will need to replace within the next year. They have don't all right over the years but never been impressed.
I have a 28g nano running the PC lamp it came with, I bought it used and have had it for 7 years, still grows coral, maybe I should change that lamp though. Not my favorite by a longshot. I have another 28 Biocube with LEDs, never have got great growth on it. Finally I have a 10g biocube I modified to use an AI Prime, once again not impressed.
I have a 350g lagoon tank with a MH on one side to grow seagrass and an LED on the other. Not much to comment on that one. Also have a 90g tank with blackboxes, when I don't have coral eating fish in it they do well enough.
Finally I have 2 frag flats, the smaller one is lit by a Radion G2 that was upgraded with G3 pro pucks, this fixture is also on it's last leg, it just doesn't grow the coral as well as it used to. I have owned it for 6 years and bought it used. Based on what I spent on the fixture and its impending doom it would have been cheaper to have used the 250wt MH I had used on it before and will be switching back to in the near future. My lamps are $50 each replaced yearly so over 6 years I would have spent $300ish, I spent $400 on the Radion, once again heating is an issue for this system, it is plumbed into the 480g tank and I run heaters most the time. My final frag tank has 2 black box LEDs, it is for growing out the cheapy corals, does ok I guess but nothing to be impressed by for sure.
Now for a little info about me, I have been in the hobby since 1992 and have ran just about every lighting type that has come out over the years, in addition I am charge of the lighting for the state owned buildings in Colorado, I have mostly switched to LEDs in these buildings, it does what needs to be done and we have to change less lamps, given the thousands of lamps on our properties the savings are pretty large as well for electricity though in general we had no need to run 400 watt metal halides before we did have some and switched them over to post top LED lamps. In general I would say the average lifespan of an LED lamp is about 5 years before they burn out (probably drivers not the LEDs themselves), our main savings are in decreased wattage going from 32 wt T8 tubes to 12 wt Led lamps, even for the average homeowner this will make nearly no difference. We did a lot better switching out old incandescent lamps, probably once of the biggest savings was in labor for changing lamps going from about once every 2 years to about once every 5.