There are a lot of factors to consider. If you're set on using this lamp, then as suggested, go with a higher color temperature (20k) and mount it higher. Of course, the higher you mount it, the more you'll probably light your floor as well, so it depends on if you really want that or not.
Electricity usage is an issue, as you'll use less with 1 250 than a 400. In a standard reflector, you'll have less light at the edges of your tank, but who wants SPS growing on their side glass anyway? That's the way I figure it anyway. You'll easily get away with 1x250w if you're smart about where you place it. 18" deep will allow you to keep SPS on the bottom with no problem, even with a 250w lamp.
I run a 250w lamp over my 60 cube (2x2x2) and am very happy with the results so far. When I had a 120 (4x2x2) I used 2x250w lamps.
Watts per gallon is only so helpful. You could put 20 65w PC lights over your 200 gallon tank, and say its enough light to grow anything anywhere, but the reality is, you'll have a lot of difficulty with it. It's all about PAR values and flow...especially when you're talking about SPS. I guess my first question to you would be what exactly are you planning to do with this tank? (all SPS, mixed, mostly acan/chalice/LPS, etc.)