Most of my reading on people that have gone to LED lighting is positive. They do, depending on which color combinations you use, grow most all coral as well as T5 and MH. The only exception I have read about are acans which for some reason seem to have a 5050 chance under LED's.
And of course there is always the lower operating cost, lower heat produced, even thought the intial cost of purchasing the equipment is higher.
Paste the following into a google search and go to the first link that comes up.
LED Aesthetics: What do really think of your color?