Everything is a trade off in some manner. HPS is a cheaper system to buy. But the heat an inefficiency comes into play, so you need bigger exhaust fans, bigger air conditioner, more water, etc. All systems have faults. But I see the efficiency of the COBs the deciding factor. I just read one ( sorry, don't remember which ) is considering throttling power to indoor growers, so people need to get thinking about this aspect. When I can build a light that is 60% efficient compare the 25-40% of 95% of commercial lights, that make price less of an issue. My airconditioner runs less now that I've already eliminates over 400 watts of heat, I'll be eliminating around another 800 watts soon. THAT is significant.
I currently use 1825 watts/hr with all my lights ( prior to the new cob light ) that put out a total of 1131.5 watts of heat. Replaced with 1200 watts of these cobs at lets be conservative, 52% efficiency, produces 576 watts of heat. LOTS more light, LOTS less heat. Add in the other reduced needs and where is your RIO now? RIO is based on total operation, not on one piece of the puzzle. some I'm also using 625watts/hr less to boot. I've seen what some people pay per kwh, I'd be crapping my pants at their power bill!
So now how much is that DIY light worth? But also, yes, you need to choose what work best based on the size of your space. Less than 4'x4'? 1212 rock! 4x4 or larger 1818's oe even better, 1825, which I'm running. If I dimm to 200 watts, I'm running near 60% efficient.
My current grow is far superior to those under the previous cheap LED grow lights. 300 watts of a 4-COB light has turned things from grape size buds into real colas!
This is not a big strain, but look at the buds!
The value in the 1212's is there depedning on your build. To make the most of the smaller LES you would want more of the them run softer for better coverage "supposedly", if you get away from one big heat sink and go to pin heat sinks or the like then the value goes away, because now you're buying heat sinks holders and optics for a lot more COB's vs less COB's run @ higher watts.
There's no wrong or right way, but there are different ways to go about running your COB's that DIY let's your personally tailor to your preference and/or grow setup.
My 600W light would have easily cost me twice as much to DIY if I followed the more common ways as of late of building lights. To me there's a point where the cost just would not be worth the switch to COB's it would take forever to realize ROI.