Hi Mike and welcome to the site!
Personally, I love my led set.
I have a duncan coral on the bottom that is very happy, I have zoas, mushrooms, and palys. The duncan, mushrooms and palys I've had for 6 months in the biocube and, let me tell you, they are all much happier in this lighting. My duncan has sprouted additional heads, my palys look huge now. My zoas are newer additions but they look happy. I will post some pics tonight, I know I've been slacking but I was waiting for a really good hair day to take pictures :)
I do feel like the light penetrates all the way to the bottom, very much so. I agree with you about the second cord.
So, I'm very happy with how they've been doing, although, let me tell you, it is never my intention to get nems or sps corals. They just don't interest me so when I bought this set and people told me the potential limitations of keeping those under it didn't bother me.(tho, I've seen plenty of you tube people who have larger tanks and these lights and more demanding species)
How long have you had your led set? You keep any corals?