I've been researching LEDs for quite some time. To be honest, they are just too expensive for me up front. You'll definitely save money over the long haul, but paying $400-$700 up front for 1 fixture is holding me back.
I like what I've seen from ecotech's Radion system that came out a few months back, but it's $750. Aqua Illuminations will be coming out with it's new Vega fixtures in the next month or so. They are wireless controlled and seem to have a good user interface. The Vega will be their new top of the line fixture.
Take a look and make sure to do your research. Many of the LED
systems out there, just aren't made well and are not suitable for SW