hps would be best for a full cycle... the halide will produce sparse, airy loose buds, with low resin production.
i have a 400w mh/hps and a 400 hps. using both during flowering encourages further growth, and resin production, and is oh so recommended. i have the same bulb as you prelude, at 400w it produces 55k lumens, ordinarily 50k, the extra five is some extra ' blue' spectrum.
there are dual mh/hps bulbs, but they get pricey, but usually have a mirrored finish on half the light, which is very nice.
youd be fine with a $20 mh bulb, thats what im using (sylviana), some pro growers prefer these as they pump out more blue, rather then white light.
some people go all out and use a 10k-12.5k lumen, or UV light for the last 24-36 hours non stop. the uv's are dangerous, and are to be used from the floor, creating an "o zone" and sanitizing every thing in that space.
spending on hps bulbs is justifiable, and a good idea.
sodium vapor is the best, but rare, for flowering.
if you can only get one set up, get a Sun System Gro Pro dual mh/hps, or, a SS hps and some 6500k coil floro's, or some T8 floro's. the T8's are turning into the standard for vegetation, all the professional set ups ive seen use T8's. walmart has 18" T8 lights that can be daisy chained. they are fairly priced as they will burn for a long long time, with the same out put. also; low energy use, cool temps, safety, and success.
my vegetating plants get mh 19 hours a day, and 6500k cfl's at odd times with the mh, and while the mh is off.
2 400w lamps is much better then a 1kw lamp, especially using dual spectrums... but a 600w dual ballast is generally a best buy.
now, digital ballasts are pretty sweet, low heat, different capacity settings, and they are approved for use with a generator.
but, the can fuck with cell phones, and eat up wireless internet bandwidth, not just yours but your neighbors also. LEO'S know this, and if there are complaints of this happening they can triangulate on to you, if that is a concern...
reflectors are another story, generally a nice pliable wing is the best for the buck. i have a wing and a 'cool tube box reflector' with a thick powdered lense, mh is supposed to be used with a lense to filter the uv's, but my mh is in the wing heheh.
no problems do far, but if you foliar feed, be careful not to let the lamp get sprayed, ive gotten a few drops on mine before, but considered myself lucky and turn the fans off before spraying now...
as far as reflective surfaces are concerned, white visqueen, out bright with paint is near 90% reflective, mylar is around 96%, but any crinkles or wrinkles can reflect light that will burn holes in leafs.
etc. etc.