Big fan of LED lights. low heat low power usage, great results. When shoppign for LEDS look for a unit with at least 6 bands and 3w bulbs. Basicy red/blue units or units with 1w bulbs are a lot cheaper but they dont penetrate as well or have an optimal spectrum for growth.
I got my LEDS on ebay for a decent price you jsut need to shop around and look for sellers with a lot of good feedback on there lights.
While the inital upfront cost of LEDs is a lot higher you save a lot in the long run since the same unit can last for a few years, and the power usage is lower.
On more thign with them is its better to have a unit for every 2 or 3 plants then it is to have 1 large unit covering an area, this is because the lights are most effective directly underneath them and having multiple units allows for much better coverage.
I myself am using 2 180w LEDS and 2 t5 HO flurosents for 4 plants and a herb garden in a 2x3x5 tent
T5's are great lights to, but they dont have a lot of penetration so while they are good for early veg when you get into late veg and flowering you need more of them for side lighting, which can get pricy quickly