If you search my name you might find very similar threads that I did a few years agao when I went through this same exact debate lol.
Here is a link to my 20g which has now been upgraded. I grew the entire tank from frags, which I am pretty happy about considering some of the tanks that people simply put mature corals into their nanos and call them done lol
http://www.reefcentral.com/forums/showthread.php?t=1828563
For nano 20g Longs are nice dimensions for giving a look of a larger tank.
When I started my tank I went with t5 only a teck 4 bulb fixture. I wanted to cost, the heat and the coverage benefit for dealing with the odd length of the 20G Longs
I really didnt give it much of chance, I found that a lot of my sps looked pastel and bleached, but I really only ran the the t5 for a couple of months, so I really didnt give them a chance to acclimate. One problem that I did notice, is with low light corals or even sps, the 12 inch depth and even less with the sand bed made it very difficult to shade zoos lps, etc and they were very unhappy under the t5s.
I switched to a sunpod, and immediately my corals seemed to color up better, and my zoos started coming back (that had really shrivelled under the t5). But the 150W sunpod had no supplemental lights (LEDS were nice for night viewing but thats about it on the SUnPOD). And the sunpod created a spotlight affect and the edges on my tank were not getting enough lighting.
So I bit the bullet and built my own hanging hood and went with to PFO mini pendants 150W and 2 24inch VHO Super Actinics.
Again the two 150s started bleaching a lot of the corals, and once again zoos were unhappy. I am sure I could have tried to acclimate better but I did have quiet high over the tank and even built longer hanging arms to raise it up higher. I then decided to take one pendant out and went with the 1x150W MH, (started with Phoenix, and then went to Radiums, both are great bulbs but I found the Radiums were just a little better for overall growth and color) ith the 2 VHOs.
This is really when my tank started to thrive growth was great and colors were at their best, but there were some issues. (I also added a Ca reacot but that was a bit later)
As corals grew the edges got shaded a lot and I had problems with even low light corals on the side, heat was a constant issue even with the room ac.
I have now upgraded and after the same debate, I went with an ATI dimmable PM on my new tank, for the obvious reaosns, coverage over my odd dimension new tank lol, heat, and cost, and the look of the fixture too.
I am very happy with it so far but my corals have not all returned to the same color they were in my 20G Long, I have bleached a lot of corals and some are ocming back some arent but the tank is new and I vowed to be more patient with it. I will say this part of me thinks that if I had gone with the Radiums VHO the sps might look a little better than they do now but who knows. I do love the fixture the ability to dim it is amazing and has made it easier to acclimate my corals (after my intial mistake with the dimming and running the fixture at 100% for a few days thinking it was dimmed lol).
Overall my opinion is this and some may agree:
First:
T5 tanks and MH (lets say Radium tanks because those are my favorite bulbs and MH tanks). Will look different. The corals tend to have an overall different look, but personally it still looks amazing, on both.
Second:
I think the reason people say you need to dose xyz and do this and that is with t5 tanks, is that most of the top t5 tanks that I have seen on here tend to do that, but I think the real reason is MH is still a bit more forgiving for lack of a better term. Meaning with t5 I think you might need to make sure you run a good fixture with good bulbs, the right combination and have good water quality, and proper coral placement, your you might bleach them etc. While with MH it just seems to be more forgiving and your corals will still look very colorful etc. I am not saying its easy to keep a MH tank by anny means either.
I think in the end whatever you decide the realy key is to keep the tank stable. Use quality equipment and keep up with your husbrandry and if you look around here there are so many great tanks that implore so many different strategies.
One other piece of advice in the 20G Long is be carefull with overstocking it with sps. In the end that became brutal for me, the coral warfare was crazy, working in the tank was annoying as I constantly broke sps, knocked them over, and I really couldnt clean the glass in most areas to even take decent pics.
Good luck, and I would be happy to answer any other questions if I can.