It is marketed as a "replacement" (your word). Reefers have been fooling around with it for a while and it is their general opinion that it does the job (for them...). They report lots of shimmer effects.
Sweet. Well if the reefers are happy with the light output then logically I'd have to guess it will work for us...perhaps even overkill.
I played around with some homemade spotlights...some really natural looking shimmer/sunlight effects can be achieved. I can't wait to see what you end up doing with them.