From the web:
The Current USA Orbit Marine LED 36-48":
Can be programmed to ramp up the light in the morning, ramp it down at night and turn on the moonlights. There are also color adjustment capabilities and on-demand storm, cloud cover and lighting settings.
•36 Watts. 36X 445nm LEDs. 36X 460nm LEDs. 54X 12K LEDs. 18X 8,800L LEDs.
They are current on sale for $150
http://www.marineandreef.com/Current_USA_Orbit_Marine_LED_36_48_p/rcu04102.htm
Pro:
It is 72 blue and 72 white chips, so it is kinda reef capable.
Cheap for a controllable LED with remote
WIth that many 0.25w LED, disco ball effect should not be a problem
Con:
It is way under power for any tank deeper than 12 inch.
It is OK for soft coral and LPS if used alone.
Blue and white LED, spectrum coverage is limited
Cheap! for a controllable light, this is cheap!