I have a 20 gallon reef and just replaced my pc lights with 2 x 75 watt VHO bulbs, one actinic and one actinic white. IMO the tank looks much better, the colors flouresce very nicely! I also think the VHO seem to run cooler than the pc's.
put me down for pc's. 2x55 watts=110 watts on a 37 gallon same footprint as your 29 but taller. marine depot has a kit for $109 if you click the link in my signature you can see this setup.
One thing I would do is go with the 10,000 k bulb abd 1 acinic. The 6700k does not have as nice as color as the 10,000