I often forget if those come in multiple sizes. And it's 20" tall... So you could get away with 175watt MHs or could go ahead and used 250watt ones. But you'd want 2 for a tank that long. Typically people recommend 1 bulb for every 2 feet.
Your standard recommended color options are 10,000K, 13.5-15, and 20. People like the lower temp bulbs because they give a higher PAR (intensity of the output) per watt. But they then supplement with actinic bulbs. Not only for the corals' health but an attempt to offset the yellow tint a 10K bulb produces. Others like the 20K without supplementation, but often this temperature produces a bad PAR so they end up running a higher wattage MH setup that's less efficient. It's also too blue in my opinion. Several bulb manufactuers have produced a middle of the road option in the temps 13.5K, 14K, or 15K. I like this option. It's middle of the road on the appearance and PAR. On my 29g I had a 15K bulb (175watt Iwasaki SE, that's Single Ended/Mogul screw type) with 2 24" VHO Actinic 03 supplementation.
As far as supplementation, I would recommend removing the current PC setup instead of switching it from 50/50 to actinic. Here's why, you do already have a ballast for these bulbs but... It would cost you about $88 to replace all 4 of them with actinics but you could switch them to VHOs for not much more. 2 48" bulbs at $22 each and $60 for a ballast to run them, or $104. Add another $30 for a reflector and $16 for 2 mogul sockets mounted on it and you that brings the cost up to $150. All you'd need after that is the MH ballasts, bulbs and a way to hang it. These are just quick prices I've gotten off hellolights.com . You may want to try to get all this in on the group order. You could also go with T5 instead of VHO, but VHO's in my opinion produce the nicest (aesthetic) actinic output. I just mention T5 because hellolights has their Tek Light T5 Retrofit kits on sale right now and it would save you about $40 after bulbs.
There's also ballasts to consider. Probe, pulse, magnetic, electronic, etc. Your best bet right now is to find a used pulse start magnetic ballast. Electronic if you can find it used, but that's harder to do.
Um, I've typed enough for a bit. Any questions or are you more lost due to options than before?