Alan,
That's enough light for almost everything, but not most sps. I have a 37 gallon with 2 65w pc, and my anemone does great, my frogspawn has doubled in size in the past six months, and my leathers, mushrooms, and zoanthids all grow like crazy. I have some branching montipora (I'm not sure exacly what kind) and it grows well.
If you already have the lights - they'll work until it's time to upgrade to sps. If you don't have them, you'll want to go with metal halide if your end goal is sps. It's worth the investment I'm sure.
If you want to come check out my setup send me a pm.
Brady