You can definitely try that, otherwise reflectors are $15 per piece, so even replacing those could maybe be worth it.It assuredly does. I made a thread about this exact topic with these exact fixtures in the lighting section. The oy person that replied had taken oar readings showing that the aquatic life 4 bulb was only 21% more par than an LET retrofit.
I considered replacing the reflectors may make the difference. Although it was pointed out that the Aquatic life fixture also has HEP ballasts, they may not be the same ones ATI uses.
Because of that I am also considering switching out the ballast for the ones ATI use. For $30-40 it seems worth it.
ATI claims to use a more reflective coating on their reflectors, admitting that they do require more "tender care" as to not scratching them.