They also have better penetration than flouresent. I hate to break it to you, but this is an expensive hobby. Cough up the cash the first time to do it right. If you do not you will have to fork up the cash later to fix it, not to mention the cash you already spent. I'm speaking from experiance. My first tank I had to up grade evey piece of gear once I figure out what was going on.
look to try to buy used if you are on a budget.. often reef forums or local reef communities or even local fish stores would sell used.
people seem to like MH mainly because of 1) intensity and deeper penetration of light (especially useful for SPS and clams), 2) not needing to replace bulbs as often (initial costs and replacement bulbs often even out compared with cheaper PC fixtures when you figure out price for PC replacements every 6 months versus MH bulb replacements every 12 months), and 3) 'shimmer lines' that some people like to see in the tanks.. something only 'point source' lighting like MH and LED's do, not strip lighting like flourescents of any type.
Since you mentioned 92 gallons, I'll assume it's an Oceanic bowfront. I think you could light that tank just fine with a single 400 watt bulb in a decent reflector. I just checked Pacific Garden Supply and their setup would run you $224.85. http://www.pacificgardensupply.com/prod ... =LA2&cat=2
Also checking Craigslist is a good way to find used MH fixtures and of course Ebay.
Yes the shimmer lines are nice. The cost up front is high, but in the long run it is more inexpence to run the MH lights because of the replacement cost. It is all the light you ever need to keep any type of coral, provided you get enough watts to begin with.
To keep cost down I built my own and it cost me about half as if I where to buy them out right. I Bought the ballast and sockets of ebay. And then used a four ft. reflector, put fans in it. That I bought from ebay. and fired it up. Anyway good lighting for corals, and clams.
If you aren't going to keep LPS or SPS corals. Or clams then you don't really need metal halide lights. Alot of soft coral, mushroom and even some hard corals can be kept under other lights. T-5, T-8 floresencts. Or VHO, as well as compact lights are more then fine.
These lights also don't give off all that heat.
Like you have heard this can get expensive. And pretty much anyway you go it's gonna cost.
What are you planning for metal halide lights? Singel end or double?
And how many watts are you thinking of?