Ok let's back this up a bit.
Few things to be aware of when using LED setups, while you can make your own led lighting rig be aware, the LEDs used in commercially available units do not utilise standard LEDs so if your going down the route of making your own fully research the products your buying as I bet they will only have a limited life for the application you need them.
Led unlike any other light source has minimal colour variation over time however the lumen output will diminish, typically this will be stated as an L rating if buying a pre built unit, this refers to the lumen depreciation percentage at a given burning hours, for example at 50,000 hours it may be L70 which means that the the lumen output is only going to be 70% at 50,000 hours compared to the 100% when new, this will inevitably lead to problems down the line as visibly you will not be able to see any change in the light output, the first thing you will see is your tank suffering, in homemade units this could occur at any point but you as the owner will not be able to determin if the lighting is up to scratch.
Another big concern with LEDs has been the driver/power supply units, this is typically where the money goes, LEDs require an incredibly stable environment in order to operate as desired, it's for this reason that we have not seen them available for marine setups until now, by stable I mean running temp voltage variation and current distribution. There are loads of cheap units available that state they are up to the job, the reason they are cheap is that I expect the LEDs are daisy chained meaning the last led in line will not be performing as it should be there fore the out out will be somewhat lower than the first, so When it comes to DIY units you really need to consider this!
Another problem to bear in mind is led will burn to extinction without any visible (or only minimal) drop in visual appearance so again you have no way of telling when the unit has expired, if you took the TMC aquaray (probably most widely known marine led luminaries) they will give you 50,000 hours life on the LEDs great so approximately 10 years, however they only guarantee the power supply for 1 year, draw your own conclusions from this but my thoughts are that beyond this the driver is not stable enough to maximise output, going back to the L rating their tech department have admitted that they only have a theoretical value of L70 at 50000 hours, why? Simply because there has been no time to fully test them to this life period.
This then takes you to consider what you do if the power supply / driver fails after 1 year? As this is the most expensive part do you dispose of and buy again?
To look at the benefits is clear that the energy consumption is by far less that Mh or any other source, couple that with the fact that you can all but completely irradiate (if done right) the colours that give us a headache in this hobby, it's a very appealing option.
However you also need to be looking at your kelvin ratings as this is to some degree equally as important as PAR, this is because your kelvin rating will have an effect on the depth that the light can penetrate, typically 14000k is as high as you would want to go as beyond this your PAR will drop off, even though your light will reach the darkest depths you'll have to forgive me but from memory I think it's about 24-30 inches of seawater that 14000k will go beyond that a mix of lighting and kelvin ratings are needed, but again homemade units have no real way of defining this.
Lighting in marine aquariums is a very difficult subject understand and learn hence my concern at seeing a number of DIY led units being made, that's not to say the don't work it's more of a case of prove they work to the correct level needed and define the point they need to be changed at, Mh T5 T8 pl all have know life spans and are user friendly when it comes to replacing parts, led right now is more a plug, play and dispose unit as they are IMO still n the testing period
All this said if your on a FO setup it's irrelevant
Please also understand that I gave given my opinions in some areas as stated and that I'm not trying to discredit LEDs as they are clearly the way we are going, however there are dangers of DIY LEDs which could lead to the harm of corals all be it accidentally
Also the wattage equivalent should be measured in lumen output ie if a 150w mh delivers 4000 lumens how many LEDs are needed for the same job?