The Ecorays are doing OK, check with Chromiumlux for some more info. They are also dimmable, whereas the fixture units from Coral Ranch (1W X 60) are not.
Darin, you can see my PAR readings on my DIY thread - BTW, you left my build out of your DIY thread... I was smoking corals on the bottom of my tank at 260 PAR and at 360 PAR about 4" off of the sand. Right now I have fab growth at 50% power on the whites and 60% on the blues (210 PAR on the sand) running a photoperiod of 12 hours. 70 degree optics.
Jake, if Darin can build you a Cree 3W-based fixture, you'll probably be pretty happy with it. Just go with dimmable drivers - you will have more control.
I haven't seen Darin's setup; I'm sure it's fine. Talk to everyone for the most info you can get. jjoos, wall_tank, chromiumlux, and others here using LED's. Put together the pros and cons and make an educated decision.