I've glad I made the switch. On certain tanks, like a reef tank, bulb replacement can cost quite a bit. I had two fixtures with 6 T5HO bulbs in each. Annual replacement for 12 bulbs is costly which was really what originally motivated me to see how long they would last.
When I got my 210 gallon tank it was too deep for T5HO lights to penetrate with enough PAR to matter at the bottom so I needed a new light. I really didn't want do deal with the heat of metal halide and those bulbs cost even more. So LED's it was. I am glad too. It's worth it for the low heat output alone. I live in a place where it gets 117 degrees F and so heat matters!