This poll is too early, the majority of current LED owners have only been using them for less than a year. LEDs work, the par numbers and data are plenty proof of that but the question is (and has been) how will they serve you 5+ years from now. These fixtures have to last many years without any problem in order for the payback to work out. Plus imagine what will be available for lighting 5 years from now, will people still be happy with their LED fixtures then? Will they still be happy with only blue and white color options? Will all these newer companies continue to provide upgrades to those special fixtures and how much will they cost? Will people miss the effect from the new bulb changes, you know that new bulb smell?
I'm much more comfortable with LEDs now than I was before but you're still dealing with new technology (new to the application) that is advancing at a rate not ever seen previosuly with reef lighting. What was good last year isn't anymore and as new technology advances the previous models become obsolete.
Also consider resale, LED fixtures probably have the worst return compared to other fixtures so if you want to upgrade a few years down the road don't count on your current LED fixture helping you out.
As for the effect of LEDs, personally I think MH and T5 tanks offer better color and overall effect depending on what you're looking for. LEDs offer that controllability but at steady state I don't consider them king but this is personal preference.
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