Your UFO light is a poor choice for LED but it will work for you with the help from CFL's. LED lights can have a life time of up to 50,000 hours.... ( up to 11 years )
and you can send it to the manufacturer to get new LEDs put in. for 20-40% of the cost.
Now if you were to spend a lil extra on a 180w - 300w LED light it has little heat and long life time you could get a good yield with DENSE resin covered buds.
The 300W LED will out preform a 400W HID, In evey way More Resin, More bud, denser bud with less power
They would work for you in your room, HID in that space(or any space ) will need more fans for cooling and overall more money.
Cfl's will be a easier start for you. ( lots of people start that way )
I have grown with cfl's before and they work good enough for a beginner. Good luck man!