Since I don't have my camera yet, and I'm obsessed with it already, I decided to get a high-powered LED studio light to play with until my camera arrives. I depends on your definition of "cheap," but in terms of studio-grade lighting, the light I bought was relatively cheap at $250 for 150 watts of LED. I bought a Godox SL-150W and an NG-10X Fresnel lens (
https://www.amazon.com/Godox-Daylight-Continuous-Controller-Protective/dp/B01MSQP7VZ/ref=sr_1_1?ie=UTF8&qid=1503875625&sr=8-1&keywords=godox+sl-150w and
https://www.amazon.com/EACHSHOT-NG-10X-Professional-Fresnel-focusing/dp/B01K1CGKC8/ref=sr_1_1?s=electronics&ie=UTF8&qid=1503875760&sr=1-1&keywords=ng-10x).
I think the 150 watt version of the Godox SL series is the best deal. It's only ~$15 more expensive than the 100 watt version, but $100 less than the 200 watt version. It comes with a reflector to focus the beam, and the ~$35 fresnel lens focuses it even more. I took several light level readings at ~1 meter using a cheap light meter. For reference, I sat my light meter on the ground outside my house in direct sunlight at about 2 pm, and it showed a reading of ~60,000 lux. From what I read, direct sunlight should be in excess of 100,000 lux, so either the sun was too low for my measurement, the light meter is horribly uncalibrated, or I did something wrong. All of which are equally likely, but all of my readings were made using the same meter with the same meat-head operating it, so that should eliminate two of the variables.
Below are my readings with the light set to 10%, 25%, 50%, 75%, and 100% power with no attachments, the included reflector, and the fresnel lens set to its lowest and highest settings. Long story short, with the fresnel lens at its highest setting, the Godox light has roughly half of the intensity of bright sunlight. Also, you have a pretty good spread of light levels from 700 to 30,000 lux for <$300.
Light set to 10% power:
No attachment - 700 lux
Reflector - 1100 lux
Fresnel (min) - 2500 lux
Fresnel (max) - 3500 lux Light set to 25% power:
No attachment - 1200 lux
Reflector - 2300 lux
Fresnel (min) - 5400 lux
Fresnel (max) - 7700 lux Light set to 50% power:
No attachment - 2100 lux
Reflector - 4100 lux
Fresnel (min) - 10000 lux
Fresnel (max) - 14500 lux Light set to 75% power:
No attachment - 2500 lux
Reflector - 6000 lux
Fresnel (min) - 14800 lux
Fresnel (max) - 22300 lux Light set to 100% power:
No attachment - 3800 lux
Reflector - 8000 lux
Fresnel (min) - 19400 lux
Fresnel (max) - 30000 lux I also did a crude test for flicker. I hooked a solar cell up to a oscilloscope, and placed it directly in front of the LED. I measured a 40 millivolt peak-to-peak oscillation at ~100 megahertz, but I think that it was actually the noise floor of the scope that I was seeing. There was no noticeable flicker at any but the lowest vertical resolutions on the scope, and certainly no 60 Hz flicker making it through the power supply. The proof will be in the pudding if I see some flicker at high frame rates once my camera arrives. Flicker was my main concern buying a cheaper LED light, and my preliminary testing has made me cautiously optimistic.