Yeah if you want to do 4 plants, definitely look for something bigger than 150 watts. Not knocking 150w HPS lights at all (I have one myself) but you'll be parking a 100 or 150w really close to the canopy and you just won't have the light spread to support more than one or two plants of any size at all.
In my opinion, you'll probably be happiest going with the 400w and easily saving well over 400w worth of electricity in small ways around your place by doing any one little thing like just turning off the TV/computer/monitor/stereo/whatever when not being used, switching your household incandescent bulbs to CFLs, or whatever you can think of to do to make up for that extra wattage - shouldn't be hard to do at all.
Also, I noticed you already have some CFLs for growing - you can continue to use those for early vegetation stage and just the HPS for flowering if you really, really want to limit electricity usage.