I've never seen a "dimmable" MH ballast. What I have seen is one that is selectable to run up to 3 different wattage bulbs and sometimes has a "boost" setting. Don't confuse that with dimmable. I don't believe that if you select 250 watts that it will fire a 400 watt bulb. As Grouper said, you have to also know what bulb you intend to fire. Not all ballasts will fire all bulbs.
Now you have to decide whether to run a magnetic ballast (large, bulky, heavy, hot and does make a humming noise) versus an electronic ballast. Electronic ballasts are supposedly more economical, not as hot and don't make any noise when fired however, I've heard that magnetic ballasts bring out the full color spectrum of the bulb being used.