Well I guess I should chime in. I actually have one of those switchable 1000W ballasts and used it on my reef until it died. There's no reason to spend the extra money on the switchable unit though. I am trying to repair it and when I do, I will use it as a burn-in ballast.
Now to get the the topic at hand...I run 3 x 1000W Ushio 20K lamps with Blue Wave V ballasts on my tank, with the two end lamps on movers front to back and the center in a dish. My tank is 35" deep and I run the lamps a litle over 12" from the water surface.
I have to say that I love these lamps. So do my corals.
Also, with regard to the amount of light, I mitigate it somewhat by moving the end lamps and using a sub-standard dish in the center.
To quantify my results:
1. Less electrical usage than a comparable reef with 14 x 400W lamps.
2. Wicked light at the bottom of the tank. My clams and anemones are VERY happy to be on the bottom and my anemones have never moved up the tank sides. In fact, they nestle into the rockwork very nicely.
3. I have a tough time with ricordia and most LPS. I have never been able to keep ricordia alive. I do fine with the usual hammers, frogspawn, fox coral, and open brain. Torches are a no-go.
4. Replacement costs are lower than a similar sized tank since I only have to replace 3 lamps per year.
5. Tank access is easier since I don't have a bunch of lights in the way, and since all of my lights are on tracks (even the dish) they slide out of the way individually.
6. Coral coloration is great. So is growth.
7. No supplemental lighting!
8. I never have to heat my tank...
You can see plenty of pics on my web site.