That's cool. It is interesting to see how it will perform.
Induction is attractive because of the even frequency distribution and fairly high efficiency. I'm not sure how accurate the following calculation is:
http://www.inda-gro.com/pdf/MeasuringPlantLight.pdf
But in terms of efficiency (PPF/W not lumen/W), induction light seems to be about 25% better than T5 HO, and slightly less than HPS. But when they account for the fact that red light is more useful for photosynthesis (yield PPF), then induction become similar to HPS. The document has one LED in comparison (it has the highest efficiency, but I think it's red/blue type which most of you don't like).
Unfortunately, induction light has been rather expensive now, and I'm guessing that induction price won't fall down as fast as LED price.