While I think we have all been thinking that LED was the way to go, it is nice to see some number put to it. It is also nice to see that the price continues to drop. So from your calculations if you used 4 units of the LED fixture to duplicate the "four-bulb T5HO fixture", you would end up with a higher PAR using the LED vs the T5HO. It would also increase the area it covered 32" wide x 48" long. or is my math incorrect?

Jason