Absolutely yes. For the last 3 years, I've had 6 x 96W PC's over my 125g tank. If you arrange the rock such that you can get the corals near the top, all the better. I successfully grew acropora, montipora (dig and capricornis) and even clams. You can keep other lower-light lovers at deeper parts of the tank...euphillia, blastomussa, mushrooms, colts, etc. You'll need to replace the bulbs about every 10 months if you want to maintain growth and coloration.

Good luck!
I really believe metal halides give the closest lighting to the tropics. In your case using a 75 gallon tank and probably 14" water depth, use a pair of 250 watt with 10K-12K bulbs. I use the double ended style spaced about 18" apart on electronic ballasts. In Macon I have to admit that heat will be a problem unless your tank is in a cold AC room or you use a chiller. Although power compacts and T5 bulbs will be cooler, you will need to expect only softer corals to flourish unless directly below the surface. As far as keeping a wide range of coral simultaneously, there is considerable chemical warfare going on as well as just physical environment. I would suggest trying more common, inexpensive, and frags of corals to find what will thrive in your particular tank. Spend time rather than money and skip the expensive display pieces. Finally, and I hate to say anything because urchins are not expendible, but that was my solution to a macroalgea problem.
William Fisher