The bulb should be at least 6-10" from the water surface.
I disagree. My MH and PC bulbs are 5" from the surface of the water on my 55 gallon with no cover glass in between. I have a small 3" fan blowing in from the PC side. I should probably use a larger fan but I don't have any heat issues since the back top of my canopy is open to allow gas exchange. I don't have any problems with heat from the bulb even if the fan isn't working.
On my 38 gal(same lighting) my hood was even smaller but I should have designed it larger for heat exchange. My bulbs were configured the same, PC's on left, MH on right with a 4" fan blowing in the PC side and a vent hole near the MH. This hood did have a cover glass between the water and bulbs, about 2" from the bulb to glass and another 2" to the water. When my fan died the top of the hood did get hot, but I never noticed any heat problems with the tank when that happened. Just make sure you have a backup fan handy.
It's been stated that you shouldn't blow air directly on the MH since they are supposed to run hot and may fail prematurely if you cool them, so gentle flow around the bulbs should be fine.
1. If the bulbs are placed so they won't be too close to plastic, you shouldn't have a problem.
2. See above. It sounds like if you go MH ,you are going to have to build your own canopy or find a premade system that will fit your tank or go with pendant MH.
3. Some people say yes spashing will crack a bulb, some say no. As long as you minimize your return flow so you don't have lots of splashing you should be fine. I've cleaned my bulb once this year from salt spray, so a little mist shouldn't cause problems.
4. There have been many discussions about MH color. Do a search in the message boards and you should find exactly what your looking for. A 10,000k bulb should be good for a blueish/white look, but there are many to chose from.
If you're thinking of clams I would probably be leaning toward a dual 175 MH system or a 250 watt MH since most clams are going to be on the bottom of your tank. I personally don't think I could keep a clam under my lighting system or would be very limited on where I could place the clam. I would have to do some major aquascaping.
I looked at those Marine Depot systems, particularly the dual MH 3' hood and retrofit kits. With two fans the complete hood is $482, with two fans and the dual MH retrofit is $439. The difference is $43, which is what you would have to spend on buying a hood/cover glass, or constructing one yourself. Of course I didn't factor in shipping. I'm sure I spent more on designing my hood, but it is a nice hood to work around. Those premade hoods may make it a pain to get into your tank to feed, clean, etc. without taking them off. If you have a hang on overflow you will have to take that into consideration as well and may need to build some type of skirting along the top of your tank for the hood to fit.