Old post so I am sure the OP has made his decision, but maybe this will help the next guy.
Electronic ballast T8's are perfectly fine (and inexpensive) for most home shops. If you are running 12hours a day you might consider spending more on T5's, but they are pretty much on their way out already. (not a bad technology, but LED's have pushed them aside before they really got into mainstream production numbers) 4' tubes are preferred regardless of diameter, have best bulb selection and are easiest to handle and store regardless of your choice of fixture.
I've used T8's with LED drop-in tubes, and they are a good way to go. T8 fixture and ballast, LED T8 tubes. Couldn't be easier.
As for colour temperature, I highly recommend 4100K, with 5000K being a close second. 6500K and 3500K are too extreme (Blue/cool and red/warm light respectively) for most peoples tastes. A CRI of over 80 is recommended, the higher the better here. (CRI 100 means perfectly represented colours by that light, important for more than just the pretty stuff - the orange wire and the red wire will look EXACTLY the same under light with a low CRI)
One note, magnetic ballasts at 60Hz can have a strobe effect on machinery at certain speeds, not recommended in a machine shop as machines can appear still while actually running! Electronic ballasts resolve this issue.
And a bit of natural light is really desirable if you can add it.