Len, my last tank I had 2x400W MH pendant. I would never go back to canopy again.
If you go to those hydroculture shops. They have gadgets for the pendant cables. There are 2 makers, if I recall, that makes adjustable cable length. It's quite sturdy, and you should just make sure that with the farrest distance of the retractable cabling system, mH pendant will still not be touching the water surface.
The pendant I have comes with a glass shielf over the bulb. But even then, I still set the MH 18" away from the surface. You should pick the pendant that gets the bulb to screw in horizontally instead of straight up to get the maximum brightness of the MH. Also, make sure you clean the pendant shell from time to time for the dust accumulation on it.
Last word of caution, just make sure you don't bump your elbow on the pendant, unless you want to have a fried elbow.