The digital ballasts run much cooler, and are pretty much silent. They save a fair bit on electricity (claims vary but its probably around 10%), are easier on the bulb (longer bulb life), and have a safety feature where if there is an open circuit for some reason, it stops applying juice and tries again several minutes later. Initially they caused RF interference, but the new ones don't have this problem.
So, they're just all around better and safer. Will cost around $100 more. The main reason I sprung for the digital was I didn't want to deal with a humming noise all the time. Although as it turns out, the exhaust fan is pretty loud anyway. Oh, and the other thing is, digital ballasts can run MH or HPS. Though I'm not sure about the one I've got, it is labeled for HPS for some reason.
I think its well worth it even if it meant saving for another month. In the meantime you could LST your plants with the CFL's, I wish I had.
I did, fortunately/unfortunately, get a demonstration of the digital ballasts safety feature when I first attempted to light my 600 watter. The wire connections from bulb socket to power supply were put together with wire nuts, and they'd come loose in shipping. So the bulb wouldn't light, the ballast cycled several times, and eventually there was a flash of blue lightning out the back of the hood. When I checked the wires, they just fell apart, and the wire nuts had a slight bit of carbon on them. I'm not sure, but I think an old-school ballast would have burned the socket right out, maybe started a little fire. I relayed this whole experience to Hid Hut, and from now on they will be using crimped wire nuts, which might just mean he's giving them a good squeeze with pliers.
So when you do get a HID, whichever kind it is, if it doesn't light at first, don't be an ape like I was and keep trying to light it. Check the socket wires.
Which type really depends on your grow location. If you have a lot of space and don't live in a 1BR apartment, I'm sure a magnetic ballast will be just fine.