I say go for 4x250w halides. 
 
I think the LEDs are just too new to the market yet, and I personally would not drop the big bucks on them until they have been proven over a decent amount of time (5+ years?).  Look at the PFO Solaris all they did was burn everyone's pocketbook, call me a bit leary after that one!  The technology has been there for awhile, but time have given us better design.  I still think they have a way to go.  Besides, I think the price will drop significantly in the next 3 years. 
 
I wouldn't DIY the LEDs either.  That's not a backyard Joe DIY project, you need to know what you're doing with the soldering iron or you're just making yourself a big mess. 
		
	
		
		
		
		
			
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				~ Mindy 
 
SPS fanatic. 
			 
		
		
		
		
	
		
		
	
	
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