If your looking at those prices look at the ebay led
pendants, you can pick up two for around 300 shipped. But get the dimmable ones. Or do a diy led
kit from reef breeders. I got a 6 bulb 36 inch t5 ho
with blue moons and all on one timer for 204$ shipped to my door. Bulbs were crap and needed to be replaced, honestly im a fan of big t5 fixtures cause theyre proven for tens of years already, leds on the other hand have been going for around 4 or 5 maybe a bit more, if you dont mind spending 120 on bulbs every year then a 6 bulb t5 is the way to go.
Metal halide is another option, you could get away with one 400 watt or a couple of 150 watts but they are more costly on hydro and put out alot of heat, but boy do they ever grow corals