It all depends on your previous, if any, grow experience. If you're new to growing, I suggest going with soil as it's the most forgiving to a new grower's mistakes. Make a mistake in hydro and bad things can happen not to one plant, but all of them.
Soil is also easier to one's checkbook.
Many disagree, but I've found Craigslist a great place to buy grow equipment. I just picked up two 600w ballast for $40 a piece.
If you've got some grow experience, then by all means give hydro a go.