Lucalox is HPS, correct. It's hard to tell from your pic, but that bulb looks old. Hold it up to a light and look through the glass of the bulb. The more burnt and dark looking it is, the older the bulb is. They are best to replace when they get burnt-looking on the inside, as the quality of the light degrades in old bulbs.
Your transformer swap question is over my head. I'll let someone else answer.
$20 is a decent price for one working ballast and one old bulb. Even if the second light is not useful right now, you can at least get a spare ignitor out of it.
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