I don't have first hand experience with VHO.  That said, I have heard that the VHO's have a much nicer actinic bulb available to them.  That's about the only reason I could see staying with VHO's.  T5's now have a MUCH larger range of bulb colours out there which would allow you to add bulbs like the fiji purple, etc. 
 
I'm guessing it's an icecap 660 ballast?  I know you can run either VHO or T5HO on those, I wonder if you could do 1 pair of each and get the best of both worlds. 
		
	
		
		
		
		
		
	
		
		
	
	
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