The wpg guideline is based on old T12 lights, T5 and T8 lights are considerably brighter for the same wattage. For the T12s, the general rule of thumb was 1-2 watts per US gallon.
You should chose the lighting based on the plants you want to grow, circulation/surface movement, hours of light, aquarium depth, etc.
Your aquarium is about 80 US gallons, which is about 66 imperial gallons, or so Google tells me.
Currently, the most efficient lighting you can get (per amount of light produced) is T5 bulbs with an electronic ballast. The electronic ballast is the important bit and I recommend that you try bulbs which don't have "for aquarium use" written on them. I prefer colour 865 (cool daylight) by Philips/Osram/whoever. Recently, I saw some of the Philips T5 bulbs claiming that they will produce 90% of the original light output after 30000 hours, which is over 8 years… would be interesting to see if that is true. My experience is that a noticeable difference is visible with the same T8 bulbs if they are changed after about 3 years.
I guess it would be fair to say that I run only "low tech" setups and I like to have about 1.5 wpg of T8s for a 2 ft deep tank, which I think is not too far off for 1 wpg of T5s. So, 60w of T5 bulbs over a the 300 litre tank should be fine and if you feel you need more, add reflectors. For 1 ft deep tanks, anything around 1 wpg of T8s works well for me. Having said that, I have run 2 ft deep tanks with 0.5 wpg T8s and 1 ft deep tanks with 2 wpg T8s, both "low tech".
For me, the best trick is to go heavily planted with fast growing plants right from the start and long photoperiods (10-14 hours), but this doesn't work for many people because they don't go for enough plants to start off with, which ends up with algae infected tanks. So if you don't want to start with heavily planted, than 6-10 hours is a more realistic photoperiod.