The difference between a 4 prong and 3 prong is that with the 3 prong you have two ungrounded "hot" conductors, and a bonded nuetral/grounding conductor. A 4 prong has the same 3 wires, except the neutral and equipment grounding conductor are run seperate, as they are required to throughout the rest of your house.
The white, grounded conductor, otherwise known as the neutral, carries the imbalanced load of the two hot conductors. If you are running just ballasts with the 240 volts you don't require the neutral, there is no unbalanced load to carry. HOWEVER, if you plan to take the 240 volts and separate the legs at a sub panel in your grow room, you'll want to run a 4 wire configuration, as its unsafe to depend upon the green equipment grounding conductor to become a path for current.
In older dryers they bonded the two together within the dryer, while the practice was legal for a number of years, new installations in most states require following the NEC, which has now been updated to require all 4 wire be brought to any dryer outlet, even if they are not used.
From a garden standpoint, bringing over 4 wires ensures that your grounding path, and your unbalanced current path are seperated. Technically they are at the same potential, and bonded back at the main panel anyway, but its added protection in the case of equipment failures. If for some reason the neutral were to open up, yet the ungrounded hot conductors did not, and the frame of a ballast became energized, you'd still have the equipment grounding conductor to take the fault current back to your main panel and cause the circuit breaker to trip.
I have yet to see a ballast manufacturer offer a 4 prong cordset. Either they are bonding the neutral and grounding conductor inside the ballast case, just as they did with older dryers, OR more likely, there is no unbalanced load and a neutral isn't needed.