Metal Halide would also work, but if you are just going to keep soft corals it would probably be overkill.
You can probably get away with less PC lighting, maybe 4 - 65w bulbs for softies. You would probably need a 4 bulb T-5 fixture which would also be around 200 watts. A 4 ft fixture would be ideal, but a 3 ft fixture would work also if you can center it over the tank.