Marineman has rightly pointed out the single most important factor for successful SPS reefing - water quality.
In my own understanding on water quality, i would boradly advocate two main factors i.e. Nutrient level and Stability ( where the basic parameters Kh / Ca / Mg / Sg are within the tolerance range).
Next in line will then be lightings. Not to say that lightings is less important but imo water quality would be a prerequisite before we even talk about what lightings to use.
Btw I am still learning eventhough I have been reefing for a while (though not as long as Jamie ) ...but am sometime surprise by how fast a new comer could catch up and keep a relatively good sps tank just within a year or two. Kind of tell me that it doesnt matter how long you stay in the hobby but how humble you are to learn and willing to keep an open mind to ideas and methods of reefing