You could,
I was going to do that with my pc ballasts that I currently have but found a hood system that had everything in it already (plus the fact that I hated my current DIY hood with the pc retro's in it I wanted something more user friendly so I opted for the whole package) probably could have done it cheaper but I'm a slave to convenience.
I hear you on the money thing but it was already time to change the PC bulbs I currently have and with 4 x 96 I was already looking at some $$, put that towards my new hood and I'll sell my ballasts when the MH bulbs arrive!