As I felt I wanted try using another light source than my Osram 400 watt double ended HQI lamp, I spent my day try finding a better one. I knew Tian used LED's in his projector and was quite satisfied with the results, so I decided to make a comparison between different LED's and the legendary metal-halide lamp.
First, here's a table

I made it in Microsoft Excel and tried to upload it here but I'm not permitted to upload a file with that file extension (*.xls). If I had the possibility to upload that file, you could download it yourself and do like whatever you want with it.
I've probably made some miscalculations somewhere in the table and if you see any, feel free to inform me so I can correct it.
As you can see in the table I used a 8,4" display as a reference. To convert the LED's mcd and beam angle I used the "candela (millicandela) to lumen conversion wizard" at http://led.linear1.org/lumen.wiz. My conclusion is that LED's are way too expensive and too weak compared to the legendary metal-halide lamp. If the LED's gave more lumen/watt and were cheaper, they could be a challenger to the metal-halide lamp but at the moment, I think the metal-halide is the winner, in efficiency, price, lumen and color rendering index.
But in the feature, I wish the LED's will replace the metal-halide lamp since they are smaller (arc length) and sexier
With best regards,
TJ
_________________________
* Edit 1: Changed the lumen/watt from 92,5 to 90,0 on the Osram lamp.
