After researching yesterday im so tempted to go with LED all the way. Theres a guy on ebay i was recommended who seems very honest about LED, i asked him for just a veg light and this is what he said, very honest answer which makes me think he wont try and blag me
In all honesty:
1)If its just for vegging, use flourescents, even normal household cf lights will work ok, use daylight ones (not warm light or white light) or buy the proper 125/250 watt compact grow ones from a grow shop.
2) Dont buy any led lights except mine, they are all crap. To cover 1 m2 with my lights costs £600 (for flowering, £400 for vegging), a UFO is what £150 (and a ripoff at that price). You need 210 watts of GOOD leds per m2 for flowering and about 140 watts for vegging. a 135 watt UFO is about enough for 1 plant - maybe. One of my 70 watt lights puts out WAY more light than a 135 watt ufo, because the leds are the best you can get and are about 3 times as efficient. PLEASE dsont waste your money on UFO's or any of the other led lights on ebay. There are 3 decent led lights, Lightblaze, Procyon and mine (and the others are 110 volts only and not as good as mine!). Thats it! For vegging stick to flourescents, any led light worth buying is too expensive to use just for that, only if you plan on flowering as well is it really worth it OR if you have a very restricted space like a cupboard and even flourescents give of too much heat.
Probably not what you wanted to hear but honest (and good) advice! You can also buy good cheap 2 or 4 flourescent TUBE fittings at a diy shop and buy standard (or special ones for vegging)tube flourescents which may well be cheaper. BUT you cant use flourescents with a timer without a relay box or you will kill the timer pretty quick.
Im so so tempted, its not so much the cost its the fact i dont want to buy one and end up dissapointed then switch back to HPS.
If i can be convinced i can get as good a yeild with as good a quaility bud in the same time as i would with HPS id be willing to try LED in both my veg and flowering cabs.