I would highly suggest using MH for veg and HPS for flowering. Like image reaper said, CFL's will make for a much smaller harvest. HIDs are just as easy to use, and the only way to burn down your house is by doing a crappy job hanging your light and it falls, or if you place something flammable right on top of your ballast. Just use thick bolts, a chain, and some common sense and you'll be fine.

Some people, like image reaper, use CFL's because it suits their needs and purpose. You should use CFLs if you have a very small grow area OR high temperatures will be a problem OR you don't care about the size of your harvest. Otherwise, HID is the way to go!

Good luck, happy growing!