Until they came out with MC-AP or other equivalent brands, I don't believe there was MC cable that met art 517 requirements and everyone was using AC cable with an insulated EGC.
MC-AP (and equivalents) is nearly same thing as AC cable but doesn't have paper fillers/spacers. To meet art 517 requirements still needs to contain an insulated EGC.
I respectfully disagree. Type MC-AP* is an approved grounding means and is manufactured with and without the insulated equipment ground. The MC-AP without the insulated ground could still be used in the situation mentioned by the OP for lighting as described in 517.13(B) Exception 2.
In practice I have found folks just use the 3 wire but I guess if you were wiring an entire medical facility and had trained personnel it might pay to use the 2 wire on your fixtures.
*http://www.southwire.com/ProductCatalog/XTEInterfaceServlet?contentKey=prodcatsheet277