I'm stuck using some 250's at the moment, hey they were free, and I'm actually suprised by the results so far. They can be within four inches of the tops with a fan cooling them. I used to have 1000 watters and growth is fairly comparable given roughly the same light/sf, but penetration is certainly lower. They throw off enough heat to brew a pot of coffee on or roast anything in a sealed closet beyond 100f , so you'll need active ventilation either way. Temps in a closet with one of those lights (and the ballast in the same closet) I can keep under control running a 250cfm bathroom vent fan quietly at half speed or so. If you could remote mount the ballast out side your space 50cfm *might* be barely enough.
.5gm dried product per watt is around max anyone can yield normally, but consider yourself lucky to get 1z per plant to start.
If it's a real bargain...Or free...