Whiskey should chine in here he seems to be an "expert" in lighting.
Basically there are 5 types of tank lighting:
standard flourscent (no good for SW, maybe FO)(outdated)
VHO (very high output) flourscent (outdated) (ok not so outdated)(just cant find the at any LFS aroun me)
Power Compact Flourscent (ok for
soft corals and som LPS)
T5 & T5HO (high output) this is the most bang for your buck.
Metal Halide (THE BEST!!!!)
The are t different configuration of each of these. There are standard fixtures and pendants and then there are retros. Fixtures and pentants either hang over the tank or sit in top of the tank and Retros mount under a canopy.
There are MANY thing to consider in lighting. What are you wanting to keep? tank size? tank depth? What color spectrum do you want?
I spent alot on powercompact because I though more watts meant more light in the tank. this is not true PC lighting penatrates the water far less than T5s do. so your better off with a few 54w T5s than a couple 96w PCs and the bulds get "weaker" quicker and you need to hange them more often.
T5s can cost almost as much as Halide but you can find good deals on them. With enough T5s you can keep anything you want.
Metal is the ultimate. Drawbacks are the bulbs are expensive, and they hto HOT. using them under a canopy you will need a chiller or a good fan.
Like I said I'm no expert! HTH