Just my anecdotal observation. I am sure that a dedicated keeper can succeed using MV, but I am reluctant for the below reasoning.
I always put one end of my linear tube UVB (Arcadia T5HO 6%) next to the basking bulb so the cham can get UVB while it heats itself up. I have a perch that extends the length of the tube so they can also get UVB without heating. They relax under the side of the tube without the heat light more often than not.
My concern with only using a MV light is that the cham would have no option to get UVB without also baking. None of my 3 panthers spend a significant amount of time under their heat lights, usually only once a day in the late morning. Forcing them to heat themselves more than they would otherwise so they can get enough UVB doesn't sound logical. In nature they can absorb UVB from filtered light, even in the shade. Artificial lighting does not provide that option (according to my solarmeter).