Currently my tank is a FOWLR and I'm using a basic plastic lightstrip from like you get with the plastic hood from the pet store. Just 2 florescent bulbs. 1 bulb is a 10000k Sunlight and the other is a 10000k Blue Actinic.
The 2 are fine, but trust me later on down the road you'll see some nice type of coral and you will want to be able to add it. Begin saving here and there for a better lighting source. It doesn't need to be a name brand or anything extremely expencive, because you can even make one yourself if need be. Anyway some time in the future you'll want to go with a MH.
Personally I'm slowly getting there myself. I'm in that boat where I watch every penny I spend, I've got a T5 light on the way, but still know in order to suppoert anything I'll need that MH.
To answer the question, No it's not too bad for fish only, but you will want better down the road. You may have something on your LR that will grow but the light isn't enough to support it.