Digital and Electronic ballasts are the same thing. They are the future of growing. They are solid state. They are basically setup like a car amp inside and out. They are a little more energy efficient(a couple dollars a month), and they cost a lot more for the most part. Unless you buy a really cheap one, and cheap = bad in this case. They have also not been as reliable, though better ones are out in the market now, but they cost a lot more than a comparable magnetic ballast. If they aren't under warranty and they stop working, you will just throw them away.
Magnetic ballasts are old school technology. They are cheaper, they run a little hotter, they are heavier, and they hum. (they aren't as loud as a fish air pump on average) They are very reliable, even the cheap ones, and you can repair them if they are not under warranty very cheaply. You can also rebuild a magnetic ballast like new in about 15 minutes and very cheaply: $50 400w, $75 600w, $100 1000w