Agreed... Stay away from LED right now! The technology just isn't there. I use a 6 bulb T-5 (4 high output blues, 2 reds) for my seedlings, clones, and early veg before either moving them outdoors in the ever intense sun, or under the next best thing, metal halide & high pressure sodiums. As an experiment, I decided to switch my bulbs out so I have 6 high output reds in my T5, giving me the wattage & lumen equivelent of a 400w HPS. While this experiment has shown me success, the bud is fluffier and nowhere near as potent & frosted as it would be if it had proper lighting. And this is with a T5. LED's will only be WORSE!
Go for 400-600w HPS if you're cramped on cash for equipment, electrical bills, or both. While the lower wattage lights emit less heat and cost less, if you have the money, you're better off going for a full on 1000w lamp system. Upgrades that will also be worth your while as far as lighting: 1) Upgrade the ballast to a switchable ballast. This will allow you to veg your plants with Metal Halide blue spectrum @ approx 7.5k Kelvin, then switch to HPS for flowering, running @ approx 2.7k Kelvin in the Orange/Red spectrum. The plant will photosynthesize more effeciently at these difference phases with these two spectrums. 2) Upgrade your bulbs to Hortilux's top offerings. Regardless of the same wattage requirements, bulbs with higher effeciency can emit 20-30% more lumens than cheaper standard bulbs. $20 upgrade, well worth it! 3) Upgrade your hood/reflector to one with 6" or 8" ventilation ducts and tempered glass so that you can properly cool your light with a blower/ducting. While pushing the hot air out of the room with this system, you can have another blower pushing cool/fresh air into the room. This air flow function will help your room with gas exchange and keep various levels in check, while keeping your room cool.
While some of this may be too advanced at the moment, I figured I'd throw it in there, as I've seen people quickly learn in 6 months and next thing ya know they wanna spend another $1-2k on equipment upgrades. Might as well do it right the first time & save yourself bigger costs down the road. Good luck, & stay away from those LEDs til the technology is up to par!
Cheers!