I have the viper system on a 20x20x16 high cube i had made.
The light isn't that bad, but I don't think the reflector is very efficient, nor do I like the "14k" bulb that came with it. In fact the bulb sucks. I currently have SPS living in it under this one light though and they look pretty damned good. So I guess if you wanted to know will it work, the answer is yes.
For the price, it's really not that bad a light. Just don't expect it to live under a lot of abuse.
I am still currently searching for what would be the best bulb for it. I started a thread on here asking, but it seems unless you're selling something of the latest fad for cheap, or you're some great self-proclaimed scientist you don't get replies, even though you've clearly stated you've looked through all of sanjay joshi's articles (credible stuff) and the bulbs you're exploring aren't covered....
Looks like I'm going to have to buy a few bulbs and find out for myself.....I've gotten no help here on that subject and I have no experience with 150 watt bulbs other than this fixture and what it came with.
P.S. In response to 55semireef, there is no need to go with a 55 gallon if you keep the corals properly trimmed. Also that would negate having 150 watt halides and necessitate 250 watt, which will up the cost. You can keep any coral in any tank as long as you can replicate the environment in that much of a space. My 30 gallon cube does that better than most people's 200+ gallon systems with thousands in those damned tunze things.
If you want to know more bluecarpet, feel free to PM me. I have MUCH experience with lighting, and reefing in general and can probably answer any question you may have.....