Ceramic Metal Halide, if you're going to spend the $ on an HID system MH/HPS is "old news".
There are other options, like induction lighting, plasma lights, and LED. HID's obviously work well, and fit the budget well, but bulb life is an issue too.
Picking the correct lighting system would be easier if we knew your goals and room size.
600W HPS run more efficient than 1000W HPS, if you go by lumens per watt. Either of those could be crammed into a 4X4, but the 1000w would not be too small for a 5x5ft space.