would this be overkill for a 10 gallon?

I think LEDs are the way to go,, Think about it

No heat
No bulb replacement
Sleek and Small design
Powerful lighting (could keep anything)
Beautiful view and shimmering effect

etc etc

and leds are not as expensive as people think, specially when your talking about spending 75 bucks a year for a single bulb and trying different methods of cooling, for a little bit more than that price ^ you can get your self a couple of par30s or a DIY LED kit.

as for the MH, can it be done? yes not impossible BUT with a serious challenge, you can keep minimum heat getting to the tank by cooling fans but think about the evaporated water you'll have to replace daily.

and i have seen people with 70-150w MH over 5 and 10 gallons, it's not impossible to do but really why bother when you can get LEDs without all the hassle.

 

thats the thing, i have a specific budget i need to meet on this tank, as it is part of my seahorse business technically, so i cant put alot of money into lighting. as for led's all i could really afford to put over it would be a panorama module.

 

I dont think one panorama module is enough, But with a bit more you can get 2 boostled par30 bulbs which are pretty cheap and effective.

 

my budget is 100 dollars, i cant spend any more.

Innovative Marine Lighting Supplies for Saltwater & Reef Aquariums

would any of these strip lights work good that are under 100?

 

MH is really not an option, you will need to later replace bulbs and deal with heat which will make you invest alot just for these both factors, not including electricity bills.

Why don't you get one Par30 bulb now and later get another when you can afford a second? however you will be limited on keeping corals with one but you can keep whatever you want under it.

a panorama module is a good option but you will need another one later as with the par30 bulbs.

You don't always have to go with LEDs, How about T5s?
http://www.aquatraders.com/20-inch-4x18W-T5-Aquarium-Light-Fixture-p/52302.htm
Great fixture for people with a budget and with the extra money you can get some quality bulbs (TrueLumen or AquaticLife)

 

I've got the JbJ 70 MH over my JbJ 6 gal nano, never had a prob and corals are doing awesome.. No temp probs at all, house is kept at 70 here. If u want it get it! Just hang it high, your getting a lot of opinions which can be confusing, if u want it get it, it will work! Just hang it high, but IMO I would try and go with a 70w mh fixture.. Gl with what u choose