Man it is really hard to say, I suppose it really depends on what your looking to get out of it. Light hood + ballast, and the 2 types of light bulbs at that price is not a bad deal, and 400 watts would yield up to 6 decent plants in a small area.

If HPS and MH are the methods you wish to use for lighting, and have checked your local hydro or electrics shop, then go for it. If not, alternative methods(such as CFL lights can always be an option for more compact areas). Using this light would be for a larger space around 3x5' at least.

So good luck with your decision, let us know what you go with!