the lighting really depends on what plants you want to grow, low, medium or high light.
how much light you use will also tell if you will need co2 or not. 2 wpg usually needs co2 not to have an algae problem or alot of excel. the shop lights work ok for low light tanks. you would be better off with t-5 fixture and bulbs in the long run,. you can usually buy a light cheaper than you can build one, but not always.
how much money can or do you want to put in the hood and lights?
you say you will stain the hood instead of painting it. if you want it to look like a store bought stained piece you will have to be a good carpenter as stain grade building is alot harder than building a paint grade hood. all the cuts need to be very tight and nail holes will have to be puttyed and stained to match. stain is 10x harder than painting. this is why i havent done a stained hood yet.