Yes, it will grow one plant fine...
The secret is to top-off the plant ASAP after four branches form, and use the four branches to flow around the light. You need to LST, low-stress-train, the branches to follow the floor until they are 12-inches away from the light that hangs down. Then you allow the four branches to rise, staying away from the center of the bulb. This is essentially a mini-vertical grow.
No reflectors will help you get more from that tiny bulb. You have to use as much direct lighting as possible.
The addition of four 150w (32w real) CFL bulbs will help a lot.
You will also need the help of a screen or stakes, to support the octopus growth. Your four branches should form a giant "X" if you look down on it, leading each branch to each of the four corners of your grow area. All the leaves and new branches will turn to face the light as they grow up.