Im currently using a 48" T5/MH combo on my 60" tank. While not exactly to your specs, heres my observations:
1.) Light height matters - I only run my MH for a few hours a day, the T5s run ~12 hours. I see that if I run my fixture at a height of greater than 14" I get considerable spillage outside of the tank, and some weird reflections through the acrylic. Anything lower than 8" and the light doesnt spread enough to cover my whole tank footprint and I see some of the coral at the edge of the tank suffer. Im currently running at ~10" off the top of the water.
2.) Bulbs matter - I was using some cheaper bulbs that I was told were close in quality to the ATI/Geissman bulbs. I was never really happy with the coloration that I was getting (everything looked really yellow) until I bought some of the ATI bulbs. Even the actninics looked deeper and richer in the higher quality bulbs.
I think if you can raise the fixture up a bit, and.or you have a pennisula style tank, the 24" would work for you, as the spread should cover your footprint with ease. If you have to run the fixture lower, have a "deep" tank or are running average to low quality bulbs, get the 36" fixture to have the coverage even out the inadequacies of the smaller fixture.