I hesitate to jump into this one. People take lighting choices seriously, and there's a lot of strong opinions. So here's my opinion, for what it's worth. (not much compared to some of these guys)
I really like my cheap Viparspectra 450 for a 2x3 tent. I also like the small Mars Hydro 300's. I use them together and love it. I have used HPS/MH lights, and think they are the best choice in cold environments.
That being said, I will be making a cob or two when I am able to have a larger grow area. The cost of filling up a room with off the shelf lights is equal or more than DIY. COB's are clearly superior, but your gonna have to either pay a ton, or build one yourself.
to conclude:
HPS/MH -- low efficiency, low cost, high heat, high electrical usage, great canopy penetration
LED off the shelf -- medium efficiency, low cost, low heat, poor canopy penetration
COB/DIY -- high efficiency, medium cost, low heat,