On my previous 120 gallon, I used a few different lighting setups through the years. I started with 2x175W with 2 VHOs (not enough), then went to 2x400w with 2 VHOs (plenty), tried 3x400W with 2 VHOs (too much/too hot), and ultimately ended up with 2x250W with 2 VHO actinics, which was plenty sufficient for SPS. Use of a good reflector like Lumenmax Elite or Lumenarcs helps a lot. You can substitute T5s for VHOs. T5s weren't around when I had my 120G.
For moon lighting, it's up to you. It's not a necessary piece of equipment, but it does add a nice touch. A single 1W LED should be plenty.