Will this work?

Hi all,
I am selling my 4x4 tent today and replacing it with a 2x2 Moving to a smaller place unfortunately. So I have already ordered the tent
but I am wondering about lighting. After running with HID i don't think I could do it in a 2x2x4 so I am thinking LED and in particular this one
http://www.ebay.ca/itm/New-2012-200W-LED-Grow-Light-64pcs-3W-Indoor-Plant-house-Hydroponic-system-/280900905813?pt=LH_DefaultDomain_0&hash=item4166ffab55
From what I have read is I want an LED with min 3w leds and a min of 50w of led per sqft. So in that tent it would need a 200w light. This guy is 200w but has both veg and flower switches,
my guess would be thats red and blue on/off. So would it be less then what I need? Or do you think I could switch them both on all the time? I am not looking for amazing high grade results just something that will do a 4 plant scrog adequately. So if anyone has a 200w+ led for around $200-$250 please let me know how it worked for you.
Cheers in advance

"According to one source, to maximize plant growth and health using available and affordable LEDs, U.S. patent #6921182 from July 2005 claims that "the proportion of twelve red 660 nm LEDs, plus six orange 612 nm LEDs and one blue 470 nm LED was optimal", such that the ratio of blue light to red & orange light is 6-8%" WIKIPEDIA
You need blue and red at the same time but generally more red than blue. without any red your plant will have a stunted growth. the lumens a LED lamp produces is around 80 per watt, so 50 * 80 = 4000 is more than enough for one sq foot. it's a matter of how many plants you can place under your panel. But personally I have vegged a single plant under only 15 watt of led and the plant reached two feet in size (turned out male), but I guess for flowering you need much more light than that.

this is the plant I grew under only 15 watt. to show you I'm not lying.

hahaha thats pretty neat, its like weed stick! And thankyou very much for such a detailed answer, but I guess the question in point is actually, for a 3-5 plant scrog, do cheap ebay leds work?
Or even something like the blackstar 240w?

Sure...it is doable. No offense david, but i like quality in my plants.

dont get that light and keep looking, look at other peoples grow journals and go from there