if they are going to be used as your actinics, i would say the vho lamps.
i base this off of the fact that many people say that the vho lamps tend to bring out
the colors in corals more. i use pc lamps and can't really complain; but when i compare mine to others using vho, there does seem to be a difference. the vho just makes those pretty bright colors in our corals really pop out at you.
If it is just for atinics I agree totally with the vhos. If for total lighting it is very hard to say. Both are good lights in my opinion. I have seen very nice coral tanks with pc only, vho only, MH/pc and MH/vho and just plain MH. I have no real experince with the t-5 lamps so I dont know about them. My tank now has 4 96 watt pc, I will be replacing them with 2 250 MH and 2 110 vho bulbs very soon. One thing I can say. Is it is cheaper to buy MH the first time than to buy pc or vho and then later buy MH. LOL That is what my dumb butt is going thru right now. LOL Steve