If you have all the correct ventilation and an air cooled hood, I would say get a 1000 watt light. I have a 420cfm fan for my light and a 465cfm fan for exhaust. My temps stay about 4-6 degrees above ambient temps.
As long as you can keep it cool, you will be much better off with the 1000watt light. I used to use a 400watt light in a 2'x2' area for like 2 yrs without any problems. ANd that was with a cheap batwing reflector. I just built a 4'x4' cab, and I use a 600watt light in there. I am planning on adding another 600watt in there in the near future. So I would have 1200watts in the same size space you are using.
If you can cool the well, you shouldn't have a problem with heat. The only place the heat comes from is the lights. If they are kept cool enough, the rest of the cab will stay cool as well. Or you can always add an A/C unit to your setup as well.