T5 vs MH lights

I've also used MH and T5 lighting (currently T5). Initially I preferred MH, however because T5 allow the flexibility of so many different bulb combinations to get the color you're looking for, and trying lots of different bulbs/brands, I came to the conclusion that I prefer T5s. I was able to get rid of my chiller and run less watts using the T5's so it's not as bad on my pockets. If you really need the shimmer effect and you're handy, look into the supplemental LED kits (or go all LED).

MH will also give you more of a focused light, as opposed to spanning the entire tank like T5s with good balast and reflectors. After lots of experimenting, I currently run the following T5 bulb combination that I'm completely satisfied with...I've tried geisman, UVL, ATI, KC and Current US bulbs and found that I like the ATI bulbs the best for growth and color (with one KC Fiji purple).

ATI Blue+
ATI Aquablue Special
ATI Blue+
UVL Super Actinic
KC Fiji Purple
ATI Blue+

Note: I should also mention, it depends on the depth of your tank. I would say anything under 24" should be OK with a good T5 setup.