It depends partly one what size your tank is. PC's work good in small tanks, they only go to 34" I think. But even in the small tanks I think you can stuff more VHO bulbs than PC's in your hood. They say that PC's last longer but they cost twice as much, and I don't think any PC's rival the quality of URI VHO bulbs. Also, the internal reflectors are kind of nice. I don't think you can get PC's with that. Basically, while I don't think you'd be disappointed with PC's, I like VHO's better for a bunch of little reasons. I have both and I like to colors I can achieve with different combinations of VHO's better too.
VHO's are just a very high output flourescent tube with connections on each end. PC's are a U-shaped flourescent tube with all the pins on one end.