The choice of lighting really depends on the choice of animals (SPS/clams, of course, right?) and depth of the tank.
For tanks up to 24" or so VHOs or PCs can be used effectively and are cheaper to acquire and run than MHs. (Well, as long as you put your SPS corals up by the light it probably doesn't matter how deep your tank is, unless you also have clams on the sand bed.)
For deeper tanks, you need the penetration of MH lighting. Of course, the shimmering effects of MH lighting is also really cool, so if money is no object then you may as well get one!
As Jon pointed out though, if your tank is big enough for 2 250W MHs, then it's not only cheaper but also probably best to use them.
-Tom