Yes you can get high par from led's but at what depth? Will the led be able to penetrate to the bottom of a deeper tank as much as t5ho or metal halides.? Plants mostly use red wavelengths and blue/violet light. Par measures all wavelenths. Red green orange yellow blue etc....So PUR is a better way to measure the actual usable amount of light in the aquarium. However a PUR instrument would be very expensive.
Standard par meters have a very difficult time measuring blue wavelengths.
Also red is a difficult wavelength to actually gets to the bottom of your tank. When you have red colour plants ever notice they may start out green at bottom of tank and go red and redder closer to the surface. They reflect the available red wavelengths and give the appearance/illusion that they are red but are in fact are not using it or only using minimal red colour produced by the light source that are not always available at the bottom of the tank.
Thats why my preferece is still with t5ho for harder to grow plants and deeper tanks. They are tried and proven and still being used in plant competitions 95% of the time.
Leds are less energy and less expence wasting on new bulbs etc. Also some very interesting things being done with andruino making programmed weather pattens, sun, thunderstorms, cloud cove, moon light etc.
Also easier to adjust..fine tune to the perfect colours you like.
Iam currently asking around which plants would people consider the most light demanding plants and if they have been successfully grown at what depths with current led systems. In my opinion dwarf hairgrass is one of the higher light demanding plants but have not seen this grown with led, i may be proven wrong we shall see.
I have seen a number of really nice led planted setups however for the most part they have been growing easy to moderately difficult plants or plants that require medium to low light.
It may appear that the best set up would be only blue and red lights. Possibly more efficient to plant growth but is unsighly and unnatural to the human eye. You would have a brighly lit pinkish colour aquarium.