I would get a set of glass lids for the tank & remove the plastic bulb protectors from the hood. I would probably also paint the inside of the reflector flat white or glue Mylar/mirror film inside it. that will maximise the amount of light you can get out of your fixture. Energy saver bulbs should fit straight into that hood. They put out much more light per watt than incandescent bulbs & don't use anywhere near the same amount of energy. Also they put out light that is more usable to plants than incandescents.
As for the plants, you might have issues trying to grow dwarf hairgrass. It's a very high light requirement plant that I think will be touch & go wether or not you will have enough light for. If you have enough light for dwarf hairgrass, you ae probably going to need to supplement with a carbon source, (Excel,
DIY or injected), & add nutrients to avoid algae issues. Perhaps using Pygmy Chain Sword, (Echinodorus Tenellus), as a carpet would be a better choice as far as lighting & ease of care goes for. It still requires fairly strong lighting but not as much as the Dwarf Hairgrass does. It is also a much hardier plant & can tolerate a few beginers mistakes.
The Madagascar Lace & Dwarf Sag should be fine with the amount of light you can provide for them. You will have plenty of light for any Anubius species Water Sprite & any other low-med light species you might be interested in. All of this is assuming that you switch from the incandescent bulbs to teh energy saver type or upgrade the lighting in some other way.