Chill down there partner, he's not bullshitting you. Go look in the LED lighting section here on RIU and you'll see threads galore of guys doing DIY builds of fixtures with the new COB, or Chip On Board, type LED.
This is high wattage, broad spectrum light with nice peaks in both blue and red. The chips people are working with most pull about a hundred watts at full power- but contrary to all stripes of the old light bulb tech, these COB LED chips do not suffer spectrum degradation when operated at low power- 'under' or softly driven', as it's known- and in fact make big gains in PAR per watt efficiency.
Long story short; kick ass spectrum, high output, huge efficiency potential... and yes they're expensive, but I've saved the best part for last; especially when softly driven, the lights last for tens of thousand of hours without significant lumen degradation. Like way over 50k... You need never replace them again.