After extensive reading on the subject, T5s are FAR more efficient than any of the other HO or VHO florescent bulbs. So essentially you will get more PAR from the same watt output. After taking measurements with my Quantum Meter, my 216w T5 setup puts out relatively the same PAR as my 384w PC setup. And although I haven't tested depth penetration (30" for my main display vs 10" for my prop tank), from what I've read, T5s with individual reflectors are comparable if not better than MHs when it comes to depth.