Time for LEDs?

[Blue Ram]

My current light fixture is the Giesmann Infiniti with 2 250 MH and 4 HOT5s. One of the ballasts blew today and will have to be replaced. It is also time to replace all of the bulbs.
I spent some time reading through some of the posts on the LEDs and am seriously considering investing in them mostly because of the high electricity costs associated with the MHs.
I could research lights for days and probably still not be able to make a decision so I thought I might put it out for there for some suggestions from other members.
The tank is a 120 gal reef (48 x 24 x 24).
Looking for a LED setup under $2000 total. Does not have to have everything that LEDs can do as I do not keep a lot of SPS but do have some nice pieces currently. Simplicity and function are also important.
I would very much appreciate hearing from some of you folks on what you would suggest.