I'd go with MH definitely and suppliment with pc's and t-5's. You will like the results and color of the zoos, clams and the combinations you can get.

IAW the literature and tests I've seen: Electronic balasts are newer technology, cost more to buy and cost less to run. They don't get quite as hot either. They also increase the life of your bulbs some so the optimal spectrum lasts through your bulb changes. Its not that you can change bulbs less often, its just that the spectrum decays less during that time.