No, the HO bulbs are higher wattage and use a different ballast.
I've been using the 2'-2 bulb T5 HO for 5 years now in a closet for host plants and such and have been constantly impressed with them, but I'm mainly outdoors. I use 2 units and they replaced a 400w MH with better results. Not to mention much less power used and way less heat.
No experience (yet), with LED's, so no help there.
The big thing, for me anyway, is the replacement tubes. I've found over the years, that EIKO work the best and last the longest. The best thing is, they cost exactly the same as the crap tubes that are usually supplied.
Wet