From an electrical point of view, you are overriding the bulb. The ballast is designed to supply the bulb with constant current, at the wattage it was spec'd for. So, if you are willing to shorten (significantly) the life of your 175W bulb, it's worth a shot. Compared to a normal 175W MH, 175W with a 250W ballast will be much brighter and hotter.
I would recommend against this.
My 2 cents.