LED lights what are your thoughts ?

A few months ago i decided to ditch the halides do to electric bill being outrageous! I decided on HO lighting and part power compact (was given power compact fixture free otherwise would all be HO this fall I was planning to switch to all HO bulbs and more LED lights for moonlight cycle ! Anyway though looking around i came across full LED setups that claim to be as bright as HO and only run at like 3 watts is this true ? Can a full LED setup be enough for a reef are there any down falls if anyone has some input or info or experience with these setups or links please let me know Thanks !

everything i read is that except for the really spendy set ups the leds are not the right spectrums.

LEDS sometimes can be awesome. Spendy though, because the only bulbs worth buying are 3 watts a piece, but to make as much light as say a 400w halide, you would need like 50 of them, so you are saving energy but it is not like you wont have a power bill. all i can say is i dont know anyone that has switched to leds and kept them. Halides IMO are still the best option to reaching the most accurate light spectrum to the sun. Of course this is all my personal opinion, but for a 120 i think you would need at least 2000 even if you were DIY. Stuff is not cheap.

Here's a write up on one of our Members DIY LED project and I agree Andre there not cheap to build.
http://redrivervalleyreefers.com/viewtopic.php?f=21&t=721

Here is a do it yourself project on LED's on Reef Central that may be helpful. http://reefcentral.com/forums/showthread.php?s=&postid=14502630#post14502630