Yes that would be sufficient, but only for lower light coral (gives less than 4 watts per gallon) such as mushrooms, polyps, some leathers and of course the deep reef coral like some gorgonias, carnations, and chilli coral to name a few. Here is basically the same thing, but a little cheaper (It's refurbished; not used...refurbished price in at the right of the page. New price is on the left).
If you want more wattage to keep more of a variety of coral as well as anemones, then you need a light system with higher wattage bulb capacity and can do so without getting into metal halides (which can eat up electricty)...
This will give you a bit over 5 watts per gallon and good for most soft corals and LPS
corals as well as anemones. It also allows for independent switch control so you can create a dawn and dusk period of lighting. These also have lunar lights.
We, as a people, know so much more about outer space than we do about our own oceans. This lack of knowledge can very well spell the dangers that lay in wait for us.
The oceans surely would swallow us before a rock comes down to smite the planet of it's life.