Steve, there is no real point in trying to compare the FX luxor to a 'standard' system controlled by UPB. It would be like comparing apples to spaghetti, they are both food but that is where the similarity ends.
As I understand it the Luxor system allows you to control individual fixtures, and groups of fixtures, all powered from the same transformer and even allows you to set different dimming levels at the fixture and group level. Then it ties all of this into a controller that allows for switching/timing/sequencing of those fixtures, groups, etc.
There is no way a standard system using UBP can offer you all of these features.
The only downside from my perspective is that you are tied into using 100% FX integrated LED fixtures, which I am sure are pretty good, but perhaps not all things to all people.