I ran that same lighting 4x55 pc's over my 55 reef tank for a 1-1/2 years.
IMO - you may get by with keeping corals alive - but personally I did not see the growth of several species - so I am looking to upgrade very soon.
Most of the soft corals .. mushrooms, green/red polyps and leathers did fine.
I would not consider this set up a DO ALL for all corals in general. SPS and your hard coral specimens that demand better lighting will most likely not do as well. They may live - but I don't believe they will grow. Clams - no way.
This is my experience and my opinion.
Toss into the mix (2) 175 watt MH and change your pc's to all true actinics - you'd have a nice set up then. Mr.Salty helped me make this decision, and these are my plans.
Again - my opinion.