My apologies for digging up a dead thread, but thought I'd add my 2 cents.
I bought and ran the "new" Hamilton 20k 250w (after seeing this thread) for 9 months on luxcore select-a-watt on the 250 setting in Hamilton Cayman Sun pendants. They are slightly more white than the Radium 20k, and the color is very pleasing (coraline algae a little more purple, yellows a little more yellow, etc). I don't have any readings from when the bulb was new, but at 9 months I was reading right at 22-24,000 lux at the surface of my tank. I put in a Radium 20k with one year's use on it and turned the ballast to the super lumen setting. Measurements at the same spot were 30,000 lux. Oddly enough, there was no visible increase or increase in lux when I turned the Hamilton bulb from 250 to SL setting.
I honestly prefer the color and price of the Hamiltons, and wish I had my lux meter back when I first installed them. If this bulb starts out with the same par as a Radium (operating at 250w vs 250w per kevinsquint's test), then being 9 months old, it has lost about 13% of it's intensity and is approaching time to be changed out.
The Radium runs blue enough that on the SL setting I get much more PAR and don't need or want supplemental actinic like I would/did with the Hamilton... and the Radium lasts well over a year vs needing to be changed at 9 months.
Bottom line, it's a wash. Great bulb with amazing color yet somewhat shorter useful life, and you'll need supplementation to get the little extra blue and PAR of the Radium (when the Radium is run on the appropriate wattage). For me and my setup, that's roughly 150 par at the surface.