no, no, no, no, no, no, and throw in a few more no's for good measure
LED is a complex topic, but it all boils down to one thing, they cost 4 times as much or more than HID, CFL, or T5's. You get some cool benefits for the premium, and you also spend a little to support newer technology that is still evolving. In short, if cheap lights are what you are after, led is not where you want to look. If you have a load of cash and want to setup a killer op from it, led is something to seriously consider.
edit: I don't mean all LED's cost 4 times as much, I mean the cheap led's won't grow shit and to grow as well as the proper grow lights you will have to spend that much more. YOU are better off buying CFL's, lots of them.