I agree, we could go on and on crunching the numbers, but the fact that many quality Mh bulbs can last 1.5-2 years negates any bulb savings compared to led. There's no need for a chiller if you're using quality reflectors mounted at the proper height, a couple of 10w fans take care of that. Plus, in this climate, the MH setup gets a 200w credit for about 8 months a year becuse the heater doesn't come on during the light period. If you factor in the initial cost and the horrendus track record of failure these led components have, it makes MH cheaper, more powerful, and more cost effective in the long run. Those blue leds sure are nice though...