I'd like to suggest a third option.
I'm using what I think is a "best of both worlds" approach on my 180g tank. I use a three-sided canopy with an open top and front-opening lids:
You don't get a totally visually unobstructed view like you would have with an open top and hanging pendants, but you also don't get the same light spillage into the room. I need to add a small piece of wood along back to prevent critters from going up and over the edge. That still sometimes happens.
What I really love is the ability to open the lids and work on the tank. The metal halides and T5's sit up about 11 or 12" from the water surface. Believe it or not, this is plenty to allow scaping to your heart's content. The open top and back allow good air circulation around the fixtures which mitigates heating issues.
I used retrofit components to keep it fairly open:
I've never regretted the canopy look for a minute:
The MH fixtures have removable glass lenses and the T5s are open to the water but use waterproof end-caps. So far I haven't been electrocuted.