Josh actually did end up starting a SW tank. You could do a search for some more threads that he started. Stang Man, ATP, and myself (and probably some others I'm forgetting) gave a lot of answers in those threads regarding lighting choices and coral recommendations. Maybe that would help a little.
i am in the process of upgrading my light to t5 ( 4 lihgts 2 39 wt actini, 2 39 wt ho lights total watage 156) with an additional t5 ho 24w) all on a 46g tank
right now i have about 1 watt per gallon and my mushrooms are doing fine as are my zoanthins, with the upgrade i will be at 4 watts per gallon which is more in line with various polyps. i think its recommended at around 3 to 4 watts per gallon which is why im upgrading
hope this helps and looking forward to others answers