depends on what you are going for imo, if you wanna do hard corals and clams than MH is the way to go, if you wanna just do softies (leathers, mushrooms etc, some LPS's) than you can do any PC setup as long as you have about 220+ watts...
I am running 250+ watts running with PC's and have a tank full of softies, and LPS"s thriving!!! Only difference i believe is that under MH you get more growth in your corals faster...but on the flip side the heat generated by them is alot worse esp if you are not running a chiller....a fan just wont do with MH's.....
Why dont you do what i did, i have a complete jebo fixture and i had a friend from a local contruction union retrofit the whole thing for me into a canopy, with add on moonlights and all, the cool thing is i kept the ballasts from the pc unit in the original now 75% smaller housing hidden beneight my tank....