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I'm temporarily going to a 6x54w T5 setup on my 120g (48x24x24). Mostly lps, but 2 sps near top. Think I'll be ok? A good friend is custom building me an led setup but that may take 4-6 months before I get it.
That will be fine. You can be very successful with just that. Take a look at Jerseywendy's tale of the tank thread. She had a beautiful reef on strictly t5's. I currently have 4 x 54w on my 120 and 8 x 54w on my 200 (27"deep) with great growth and nice colors
Agree...your coverage area is a bit more limited but otherwise no problem, just make sure your SPS are directly under the fixture not out on the edges(front or back)as the par will decrease as you move out from under the fixture.