If you want something controllable, I.E. sunrise/sunset, lunar cycles, storms, etc., you'll need to look at the Radions, Hydras, or Kessils for full LED setups. However all those features come with a hefty price tag. There's also ATI's t5/led hybrid that's quite nice. I've only had personal experience with Kessils. They're great little lights, but I would never use them on a larger tank due to their point source nature. It would take a lot of them to get good solid coverage.
In my opinion, the best led light I've used is the OR-T247. They're affordable, the LEDs are spread out instead of the popular puck style in many of the high end units, they run cool to the touch, dead silent, and flat out grow SPS. If you want to see an example of ORs on someone's setup go checkout Sawdonkey's tank thread. The only downside to the OR's is that they are just on or off with the apex. You can adjust the intensity through the lights remote, but can't do any sunrise and sunset.
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