full life cycle considered, HPS is the best all around spectrum for a cannabis plant. if you look at the spectrum of an HPS bulb you'll notice it actually has a lot more blue in it than a metal halide has orange or red. an HPS is very orange, yes, but many people often overlook the completeness of an HPS's spectrum for that reason.
anyway that wasn't your question was it? if you think your bulb is indeed dying out then i would suggest just getting another bulb. the ballast should be fine. you'll get a lot more bud if you keep the HPS in there, but there are plenty of examples of good bud production using a MH lamp. in my opinion, though, changing the spectrum so drastically after the plant being in one spectrum its whole life is just asking for hermaphrodites. your plants expect that cool blue spectrum in the spring and summer. generally stressing out the plant during flowering in any manner, including this one, is best avoided.
peace,
monkey