Are you sure he means both at the same time? It usually means one or the other.
In a 5x5 room the 1000 would do you better watt for watt, dollar for dollar on your electric bill, that's ideal for a single 1000 in fact, but if it's only for a personal stash and you don't have to support anyone else you could do fine with a single 400w hps if you had some flouro's or something to veg with. You don't have the burn this kind of electricity if you don't want to, not even two 400's, and broad spectrum lights are supposedly nice but if there's a real gain it's not really worth high electric rates right now imho.
The 1000w light will grow you better bud than a mix of hps and halide and cfl's and flouro tubes all combined with led's on top just for giggles.
The only thing better would be the sun.