I might be biased towards a 5 lamp unit.
Although, someone on RC posted PAR readings from a Tek unit and a TX5 and the Tek blew my TX5 out of the water. I was bummed.
# of bulbs is dependent on what you want to keep and tank size. If money is no object, grab a 10 lamp ATI Powermodule, go barebottom, and keep SPS in the sump. Heck, maybe the other room too! I'd say 4-6 at least, but it depends on how much you want to spend, what you want to keep and where in the tank, how much room you have/can spare, canopy, etc. See, too many variables.
In the end, it's your call. If you like the shimmer, MH is the only real option. If you decide on T5, then you have to look at DIY in a canopy vs a fixture(sure, you can run a fixture inside a canopy but why hide what you pay for). DIY will be a little bit cheaper, maybe. The only fixtures I would consider are ATI(Powermodule & Sunpower), Aquactinincs (TX5, Constellation, Solarflare), and Tek. Also, consider used setups because there are some good deals out there.