I'm still surprised that these questions exist - T5 HO lighting has proven to put out significantly more light than many MH options
While I agree with the conclusion - that T5 HO bulbs can be used for most reef systems - I do not agree with the comment about T5 HO putting out "significantly more light" than metal halides.
Much depends on the type of bulbs used, the type of ballast, and the operating temperature of the environment. I think it might be more correct to say that a correctly designed T5 HO system can be created that delivers similar results to a low-wattage, middle-of-the-road metal halide setup. For larger tanks, deeper tanks, or other "extreme lighting" uses, a T5 HO setup does not (in my opinion) exist that will achieve the same results as a high-end metal halide setup - either in terms of overall light intensity, or efficiency (lumens per watt).
Here is a nice link for everything you ever wanted to know about T5 lighting:
http://www.lrc.rpi.edu/programs/nlpip/lightingAnswers/lat5/abstract.asp
A huge advantage the metal halide has over T5's is its intensity. Metal halides generate much more light in a smaller package than T5 HO's. As a quick comparison, imagine packing 12 x 46" T5 HO bulbs in an aquarium hood. For purposes of comparison, assume all light generated is reflected downwards 100% efficiently (same assumption impacts metal halides as well as T5). In terms of lumens generated, the 46" HO bulbs will each generate approximately 5000 lumens. Total lumens generated over approximately 4 square feet lighting hood (bulbs placed 1" apart, center on center) would be 60,000 lumens (672 watt total fixture draw). Now imagine if you replaced that bulb array with 2 x 400 watt metal halides. Total light generated with two bulbs - 72,000 lumens, 800 watt total fixture draw. Somewhat comparable efficiency - but only two MH bulbs needed to produce MORE than what an entire hood full of T5 HO bulbs can produce. If you wanted, in the same 4' hood you could easily pack in 4 x 400 watt metal halides - and destroy any T5 HO array by generating almost 3x as much light in the same space (and comparable efficiency) - though you would be burning 3x as much electricity to generate 3x as much light.
So it all comes down to what you want to achieve. Of course, with the advent of LED's, the days of both T5 HO and Metal Halide technology are numbered. LED cost continues to drop 50% every three years. Within a decade people will wonder what a fluorescent bulb used to look like
