T5's lumens/watt efficiacy is as good or better than most MH lamps (see the Wikipedia article on "luminous efficacy" for basic information). Regular T12/T8 bulbs are nearly as efficacious and far less expensive, so I'd use those. Straight 4' fluorescent tubes produce more light from their centers than their ends. They make excellent vertical side lighting in small spaces (such as your tent). They worked great in my second indoor grow...
If I were setting up your tent, I'd use 4 two-bulb 4' "shop lite" fixtures mounted at root level (the bottom of the light mounted slightly above the top of the container) and a 12" circular bulb (or larger if you can find one with a screw-in holder/ballast) in a clamp light (minus the clamp and reflector). The 12" bulb is suspended by the power cable (the power cable is stronger than a "light yo-yo" so don't worry about it) and "follows" the plants upward as they grow. You could also use 24" tubes (4~6 bulbs ought to work OK). T12 tubes can, in my experience, penetrate 18" pretty easily so my recommended lighting setup should give "full coverage" in your tent (as long as there's top lighting as well). Change the bulb types according to vegetative (cool white) and flowering (warm white); just normal fluorescent tubes. They're a lot cheaper and their luminous efficacy is nearly the same as T5. Consider an air-cooled 250W HPS in place of the fluorescent top lighting during flowering for a little more intensity.
As far as ventilation goes, it really depends on whether the room the tent's in is climate controlled or not (and what the climate is like where you live). The tent, being just 32 cubic feet, doesn't require much of a fan to keep the air "fresh". 12 CFM exhaust (don't waste money on a powered intake) would almost be overkill if the tent sits in a climate-controlled (heated and air conditioned) room. Obviously, you'll want to get a small (4") matched fan/filter combo and a good speed control. You'll also want one or two 5"~7" oscillating clip-on fans to circulate air inside the tent (and simulate the wind). The oscillating fans will strengthen the plants and help stabilize the temperature inside the tent.
If the room isn't climate controlled, then things get more complex/expensive because you'll need to control the tent environment more aggressively (heating/cooling/humidity). A dehumidifier is likely to be necessary to prevent "bud rot" and powdery mildew during flowering. If the dehumidifier is "powerful" enough, it can even be used after harvest to turn the tent into a humidity-controlled "drying/curing room". It can also be turned into a hydroponics reservoir chiller (there's a thread on RIU somewhere; the build was done for about 1/3~1/2 the cost of a commercial chiller - quite impressive). OK; now I'm just rambling. Good growing!