I ran 8X 54 watt T-5s over my old 75 and kept SPS in the bottom 1/4 of the tank with no problems.I also thought I never stray away from T-5s.Personally,I think their just as good as MHs.
BUT,Since I got basically the same fixture as Dcan,I dont think I'll ever go back to straight T-5s because I love the shimmer effect and actually think the shimmer helps some of the more light demanding corals.
As far as LED lights go.Not over my tank.I've helped set up a few tanks that used LED fixtures.I didnt like the looks,didnt like the way the corals and rock looked under them.They didnt seem as bright,and didnt seem to bring out the colors.Of course thats just my 2 cents.