Need Advice on Lighting for SPS

[CSS Reef]

I have narrowed it down to (2) choices for the new 120 Gallon:

1) 2X250W Phoenix 14K on Icecap MH Ballast and Reef Optix OR Lumenmax 3 reflectors. and 2 X 110 W VHO SA supplements

2) 8 X 54 Watt T5's on 2 Icecap 660, SLR reflectors

Which setup will yield best color from corals. Yes I know color is dependant upon tank parameters and stability but if conditions were optimal, which setup would make the colors "pop" more??

 

[DarkXerox]

First off, how deep is the tank? The T5's should be able to penetrate fine if its larger than 24" but you might want to look into 400W halides if its deep and you want to go that route.