It depends entirely on wha tyou want to keep.
You can keep anything under halides and T5s. The largest T5 lamp available that's not TOO big is a 4', 54W lamp. With a 5' tank, you'll either have to stagger lamps or have a 6" unlighted space on each side. 6" probably won't be so bad. You'll want at least (8) 54W lamps for a tank this size, maybe more if you want to keep really high light stuff such as clamp, anemones, etc.
If you go halides, you should be able to get away with (3) 175w or 250w lamps.
Power Compact is obsolete. It's cheap to buy but really expensive to maintain over time so don't bother.