I believe fully in the LEDs. I was skeptical, but I have some serious plant growth under a single 450w LED. My mothers (I had 4 in a 3x3 area) loved the light. I had to remove two of them because there was just too much growth. going on.
Put two of the mothers into the flowering tent and they are under a 900w LED and I simply can't control the plants. I am going to have to make some serious changes next flowering because it's going to get crazy in there.
But, as people are saying commercial side of things may be different, but I see a LOT of commercial growers here going to LED over HPS/MH simply because one light can do both, they last longer, and are essentially cheaper in the end when compared to buying replacement parts, bulbs, cooling fans, reflectors, etc.
I think it ultimately comes down to your processes and flower rotation. If you have that down, you can still produce as much as HPS/MH using multi stage veg/clone/flower processes. Every couple months here at home I am producing well over 1/2lb doing very minimal work. That's with just two plants in each phase of my grow operation. 1/2lb might not be much for everyone else, but for me, it's actually TOO much.