This sounds very interesting, especially if it doesn't get "too" technical, I see that you have a 15 long, and the pictures look like that setup is doing your coral justice.
As for the lower light sand bed, that's exactly why I chose the 15 high, so I could keep the SPS up top, and the softies in the bottom.
When you say 12 LEDs should be enough, do you mean 12 daylight, or are actinics included there?
I think you may be fairly interested in looking at this article by Dr. Joshi which compared the supposed "best" of the newer forms of lighting: http://www.advancedaquarist.com/2010/2/aafeature2 I don't like his bulb choice for the halide, though, as that would have been a big deciding factor as far as PAR and the reflector could've been better. He was using fairly high PAR T5 lamps, as well as top-notch reflectors, though.