I just thought you should at least be told once about the tank size, just so that you know. But if you're up for the challenge then definitely make sure you do a lot of reading.
Other things to note on a tank that small is that you will not be able to keep any sort of anemone, they are too big. As far as fish go, tangs, angels, butterflies, anthias are all out of the question.
Fish which you could keep include clowns, gobys, chromis, dottybacks, cardinals, blennys, firefish. So you're stocking options in terms of fish is quite limited.
In my opinion there is only one way to setup a tank and that is with plenty of "live" rock, and a good skimmer, shallow sand bed vacuumed regularly.
If you go with metal halides, you could probably get cheaper if you went with a magnetic ballast instead of an electronic one. A single 150Watt would do a 2' tank.
Another option for lighting on a tank that size is T5, which would also allow you to keep most inverts.
And in case you are short of anything to read, checkout www.reefcentral.com
Layton