Doing a little research, I ran in to this quote from a retailer's (not Marineland's) website:
"The Marineland Reef Capable LED Lighting System 36-48" has the equivalent output of a 36" 2 lamp T5 HO..."
That interesting, because that's about what I'd guessed in looking at different designs out there, and the pricing of the ML fixture. I'd assumed these new ML "reef capable" systems weren't as strong as the 6-bulb T5 HO fixtures, but probably better than a PC or 2-bulb T5 HO.
itsgracia.... you might keep you eyes on the just-released Current TruLumen PRO led strips. These look like an interesting idea, depending on the pricing. You can use them to supplement an existing fixture - in fact, Current's website shows them being added to a ML reef-capable fixture! Or you can gut out an existing fixture and put however many you want in, depending on how much light you want. I have a PC fixture, and am perfectly happy with the amount of light I have and don't really want to mess things up by pumping way more light into my tank. But I would like the advantages of LED (lower power consumption, no bulb changes, no heat). So I'm keeping my ears open about these new Current strips...