I personally haven't done DIY LED, but the convenience and ability to program my AI Sol is something I absolutely love. I'd say the pre-made fixtures are worth the money...maybe not the new Radion Pros, but I don't know since I don't have experience with those.
Do DIY LED if you want to... - Save money - Have maximum control of color spectra, placement, heat control, LED design - *Control the LED itself - seriously, I'll post more on this in a second. - Are comfortable using soldering tools - Have a working knowledge of electronics - Either you don't mind having an ugly mess of wires or you have some carpentry skills and can hide the project in a canopy - Have time, desire and know-how to really fine tune the system
Skip doing DIY LED if you... - Don't want or are uncomfortable with any of the above - Don't mind the extra money - Want a really nice polished looking product - Want to control the LEDs but don't want to go through the exercise of learning how to do it in a DIY setup
Now, about controlling the LED setup. Your ability to set every stinking parameter you can think of is unmatched with a DIY setup. Unfortunately, the more you want to control the more you'll have to learn. Most DIY setups have a driver for the LED that provides an interface to a controller. If you have any kind of programming and electronics experience, you can buy an Arduino (arr-dween-o) controller from RadioShack or Amazon for $30. You can program your LEDs to do - and I mean it when I say this - anything you want to do.
I love Steve's LEDS at www.stevesleds.com. They use the Philips Luxeon ES LEDs which have comparable lumens output in the 700-800mA range to Cree's. Cree's have a higher lumens output but at the currents they'd be running at (1-1.5A) I think they'd be too hot so I personally don't go for them.
RapidLED is another great source. www.rapidled.com
Whatever you choose, let us know! It's really fun to see what everyone comes up with.
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