The PAR 38 is a flood light. I have yet to use them for indoor plant cultivation, yet I have thought about it for years. I usually use 400 to 1000 watt Metal Halides, sometimes 250 watt HQI metal halides. I also have used T-5's and I'm currently using 700 watts of LED's on a light mover with great results.
When you find out more about the PAR 38's, please share with us, I'm very interested.