Oops, WELCOME
Anyway now that I gave you the rundown on mercury vapor lights, let me add that the Iwasakis are about $65 as Opposed to $100 for some of the more exotic 10-20K bulbs specific to the aquarium trade. There are cheaper MV bulbs available but they are usually in the 4300K range, fine for Hydroponic gardening but , most people who have tried them found they REALLY promote the unwanted
algae growth, tho I would try them on a remote
macro algae,mangrove or turtle grass tank in an Airborne second

As far as the Halogen lights, like the 500 watt work lights and similar they are really bad spectumwise and focus a ton of heat, more so I believe then a well setup MH system in a ventilated canopy.
The one thing I know is after 5 years of reading reef bulletin boards like this, if there was a cheap, reliable way of providing a ton of light, everyone would be all over it. HTH