Just wondering which would be more intense: 2 T5's at 36watts each vs. 2 PC's at 96watts each (assuming each has the same K rating)?  Would they be about the same?  I'm debating between the two for a 35g frag tank.......it would be nice to be able to grow some lps out there at least.

I would say T-5 IMO

I would assume the PCs would put out more, even though they are less efficient. Personally I would go with the T5s due to efficiency. With good reflectors, bulbs and ballast, you would likely be have plenty of light to grow out LPS. Not to mention that you don't need a lot of light for LPS anyway.

I would go with the T-5's as well, just put some on my tank and corals are growing way fast. I had pc's on there before.