T12HO (high output) will not be part of the T12 phaseout. Somewhere deep in the forum is a reprint of the new restrictions and T12HO is exempt. I wouldn't want to try and install an 8ft T8 bulbs, they seem too fragile. The quality difference in new T12HO and old magnetic ballasts is very noticeable.
T8HO are not actually any brighter, its just that few people compare new T12 and new T8 electronic ballasts at the same time.
Most people upgrading to T8s have old magnetic T12 ballasts and worn out bulbs then install T8 electronic ballasts and new bulbs and think T8s are much brighter. The phosphors in new bulbs are much brighter the first week or two adding to the impression of T8s being brighter and T12HO wouldnt be phased out.
If they were to install a new T12 electronic ballast and new bulbs, it would look just as bright. This would be a waste of money if you aren't the Mythbusters with non HO T12 because they will be phased out.
The new T12HO electronic ballasts are very very bright, silent, efficient and work down to -20F.
I might consider it after the case of T12 bulbs I have are gone, 8ft HO bulbs are about $15 a piece so changing to T8 will have to wait and if the bulbs are the same price then, why bother? When I was changing out my old magnetic ballasts, T8HO ballasts were 2 or 3x what they cost now and that was a year ago. T12 won that battle, especially after I did the research and found out it wouldn't be any brighter.
The one place where T8 beats out a T12 is the 1 or 2 watts more efficiency per bulb. ~ 32 watts for 2900 lumens in T8 and ~ 34 watts for 2900 lumens in T12. This does not account for ballast efficiency. Crappy T8 ballast vs great t12 ballast could reverse this result.
If you look at the advertising and efficiency ratings, you'll notice the "cost effective" comparison is only for T12 magnetic, and T8 electronic. They dont put the T12 electronic ballasts up against T8s.
http://www1.eere.energy.gov/femp/procurement/eep_fluortube_lamp.html
I went to Graingers website and looked at the bulbs. There are so many different types its impossible to compare, but it seems you can buy $8 to $24 F96T12HO and $20 to $40 F96T8HO. The light output and wattage varies a lot, so maybe Mythbusters should do an episode.