For most the lights we use for growing, "lumens" is the number that is most important(LEDs are one exception), and the number you should use, when deciding what to use. 3000 lumens per square foot, is the number that many accept as the minimum intensity that'll grow nice healthy(and bushy) plants, and seems to be pretty accurate. I use a light meter, and shoot for that number, myself, both with flouros and HPS. Also, keep in mind, that placement is everything, once you have the lights capable of providing 3000 LSF(lumens per square foot). For example, a 5000 lumen CFL will give your plants around 5000 lumens of intensity, if they are placed close enough.(an inch or so) If they are 5" away, your plants might only be getting 1500 lumens, and your plants will stretch. Light loses intensity very quickly, see "inverse square law" for more on that.
As for wattage....I've heard anything from 100 to 50, watts per square foot, is a good number to use, and it's not very useful, unless you get lucky, or know what intensity(lumens) is actually reaching your plants. IMO, using wattage, is mainly for HIDs, and calculating how much light will be needed to cover a given area. My advice for all of this....when in doubt, go bigger. You won't run into any problems with having too much light, unless you are well above 10,000 LSF, which doesn't happen often.