At barrierreef they have the exocotic par38 tricolor LED for $120 i think. And you can ask Aquanut what her say on those. I have seen it person and im impress with the punch to a deeper tank.
The lens or optics are for how wide or beam you want your light is. Those numbers are degrees measured from one side of the cone to the other. And not from center to one aide of the cone.
I just havent seen any par on those par38 leds. But this is what i can say, Aquanut have two 12k 250 watt reeflux overdriven by hqi ballasts, and i was hoping that when you turn on and off these par38, you will not see any difference at all since they will be washed out by the intensity of those two mh bulbs, i was wrong. Thats why im impress. Very un scientific, but still im impress.