Island, are you talking about the high output Extreme retros? They apear to be okay but I have never seen the reflectors in person and that is one of THE main factors with T5s. Also the lamps are the best. That can make a difference. Lamps like ATI and UVL along with a couple others are going to give you better output. Also the price is not much less that a Tek retro... you can get a Tek retro for $99 and lamps are around $20 a piece. You will likely end up with better quality reflectors, lamps AND ballasts if you go with a Tek. The Sylvania Quicktronic T5 ballast is just about the best spec T5 ballast on the market.
As far as penetration, a 4x24 watt ballast will easily penetrate deeper that a 150 watt MH. In general, with quality lamps/reflectors, with comparable T5/MH systems, T5s will penetrate deeper.
Now, as far as comparison with T5's and PC's, I dont think it can be made. I can tell you that the lumens per watt is much much higher than PCs... something like 20 lumens per wat for PCs and 90 lumens per watt with T5HOs, MH is about 100 lumens per watt to give you a comparison. Also, PC's cant come anywhere near T5's in penetration or efficiency. something like 30% or more of the light from a PC never even see the tank. With T5's, only about 5% of the light doesnt make it into the tank.
Remember too that T5's run optimally at a temp of somwhere around 95*F. If they arent cooled properly with fans, or if they are cooled too much, then output is affected up to about 30% if I remember correctly.
There is an fantastic thread on reefcentral.com dedicated to T5HO lighting. It is at least 150 pages long, but you can get a great amount of knowledge by just reading through several pages... here is the link.
http://www.reefcentral.com/forums/showt ... did=988440
Here is a good thread for T5 lamp output...
http://www.reefcentral.com/forums/showt ... ght=t5+par
Those links should give you a good start. I hope that all helps and I am sorry to hijack your thread sunnyaz!
Jesse