Well... it's finally finished, and I posted a lengthy writeup on my reef blog. It's about five pages long, but it still seems to be only a quick summary of what actually went into the project. Read more at http://thereefexperiment.blogspot.com/2011/02/led-project-complete.html.
Let me know if you have any questions. I'm pretty happy with the end result.... currently running at roughly 50% output and things seem to be responding positively except for my Cyphastrea, which is utterly nonplussed.
Logical connections, not a full diagram:

The finished product.
My dad and I designed an aluminum mounting plate, and fabricated it on a mill.
Verifying Meanwells fit. Perfect, imo. 
Watching paint dry.
Back plate.
Assembly.
Finished hood.
Final calibration.
Final light test!
Finished and in the stand.
Is the cyphastrea showing loss of color? I have to move mine when the sun hits the tank or place a sheet of paper on the side to keep the sun off. I glued it to a magnet so I could easily move it up or down to find the right light. It lived there for a year. I recently moved it to the rock work and it is still happy. Several little chips were glued to rubble and they are skinning over well even with the change to LED.
Nah no bleaching or any color changes so far. It was just a little closed up. It's one of my most reliably happy looking corals so for it to show any signs of being unhealthy is a good indication to me that something has changed.
I think the Cyphastrea being closed was just an anomaly, they have been open and very happy. Christmas favia may be having an adjustment period but I can't move it (it's grown onto the base rock). Fed it last night and am revising my gradual lighting increase to several weeks from the original 2 I had planned.
As usual, these fancy builds make my system look so ghetto.
Custom milled plate - no fair!

Looks great!!!
Have you measured the temps on the power supplies?
Probably fine with all that fancy aluminum, but enclosed like that, and then inside the stand, a possible concern.
Thanks rygh.
As far as temps go, I've touched the outside of the enclosure, but that's it.... no proper measurement thus far. It's never more than slightly warm (a little bit above ambient?), but I had the same thought when I was already well into the project. They're rated for up to 140 degrees F (operating temperature) so I think I'm alright.
do you have plexi covering the LED's to protect them from salt spray?
Just wondering. I don't know if it is even needed.
Not plexi- I use the original clear plastic cover that screws into the hood which used to protect the PC bulbs.. It has a gasket and is splash resistant.
Protecting the LEDs and all exposed wiring, metal, etc from splash and spray is definitely a mandatory step. I'll post up a pic of it when I get home this week.
I thought so.
Very informative Blog.
Nice work. Good to be happy after all that!
Mike