1) If you can handle super-simple wiring, Cree CXA3070 is very easy, and one of the most efficient white at this moment. One of this (driven at 50 W or so) covers about 2x2' area (for moderate-low light orchids). About $50-60 for 1x 50W. I think I posted a thread about this.
If it is not an option,
build-my-LED was tested to have a good efficiency. Also Ray sells
Philips GreenPower. It has good spec (a bit pricey-end). Other one with good reputations is [http://a51led.com/store/]area51[/url] (good customer support). Some LED panels don't seem to last, so it is good to buy the brand with reliable customer support.
Cheap ones work, but you may not get a lot of saving over fluorescent lights. But even the cheap ones have an advantage with regard to heat.
2) depends on what kinds of plants, area you cover etc. But 10-20 (actual) watt per sqft, is a good start.
3) depends on the models, optics etc.
4) yes. Getting a grow tent could be easier. But you may need to pay attention to the heat issue if you completely enclose.