For a 120x120 flowering room I would consider only these options and probably choose the last one - DIY leds (CMD is best HID option). I think the easiest way to go above 1g/W are good leds, not old tech ones.
HID
1x 600W hps - classic
1x 750W hps(gavita) - better than classic
1x 630 CMD(ceramic) 9300 bulbs(actually 2x 315W in one fixture) - top HID spectrum
LED
500W cree cxb 3000K/3500K leds DIY - top efficency, many options
What if you only had few hundred bucks to spend? I have looked at the cxb cobs many times and just the leds and drivers exceed $600 for 450w 73k lm.