Update:
Finished the first one this morning. Great!
First, it is not necessary (probably) to dismantle the whole ballast like I did. If you remove the bulb and look into the mogul socket you will probably discover the mounting screws at the bottom of the socket. If you can remove these the whole socket will come loose and you can simply cut the wires and splice in a length of cable to remote the socket.
You can use the reflector too!
It is way too big. What I did, I drew a line around it about half way up and used the jig saw with a metal cutting blade to remove the excess.
Result: a lightweight HPS reflector with socket and bulb, easy to hang, no excessive heat from the ballast, no danger of heavy ballasts coming down and crushing the plants.
I was able to lower my lamp to about 2ft above the plants after modifying it.