It's all about the watts. Certainly a 1500Watt space heater will give you the most bang for your buck. A 400W halogen bulb will provide quite a bit of light, as well as a decent amount of heat.
Here is some info on light bulbs and conversion efficiency. All light bulbs currently available on the market are relatively inefficient converting electricity to light. A typical incandescent bulb converts about 4% of the energy to light, 96% is given off as heat. They are fairly cheap, but grossly inefficient as light creating devices. In truth, they are very efficient space heaters with the side benefit of generating a small bit of light. A typical fluorescent is about 4X as efficient as an incandescent, so it converts about 16% of the energy to light, 84% is wasted as heat. A cutting edge LED maybe is 2 or 3 times more efficient than a good fluorescent, so maybe it's 50% light, 50% heat (they may feel "cold" to the touch, but they are still generating some heat). Secondly, even if light is produced, as long as the light is contained in the room, it won't be completely wasted. Meaning, if you put a lightbulb in a closed wooden shed, any light produced will be absorbed by the walls and converted to heat at that point, so nearly 100% of the electrical charge used will end up going to heat the shed, regardless of the lighbulb efficiency. On the other hand, if you put a lightbulb in a glass or plastic greenhouse, some of the light will escape and be wasted, but as long as you don't use an LED, I would expect the fraction of energy wasted would be fairly small.
Since you already have an extra thermostat, you could put whatever you decide to use on the thermostat, so having a little extra wattage won't hurt you. Just don't point a 1500W space heater directly at a young plant, it might dry it out.
Rob