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I have found that greater flow will help some macros like cheato that actually likes to tumble.
Warning or footnote, the greater the flow the louder it will be.
I don't know diddly about HOB overflows so cannot help at all with that part.
With that much CP lighting you can keep just about anything. That being said I don't like CP lights because you a) have to replace the bulbs way to often 6-9 months b) they generate too much heat being older technology c) they don't have the par of T5 or VHO.
Now besides lighting you need a...
If you can have a pair of fish, one positive for clowns, then you add one more + for tank interaction. There are a number of fish that can pair up and mate. I would consider that in the stocking.
All of what gogol said.
Would include that salt water is a lot less forgiving then fresh. I have both tanks and I do very little percentage wise on fresh water maintance...and that is with drift wood, plants, etc. It is great and my festivum is maybe my favorite fish in all the tanks; but...
Well honestly I don't think it is enough. I have a similar fixture on my 55G fresh water tank, it is just barely enough. You are right about the new bulb length. I think you want roughly 3.5+W per gallon...and believe me I am a HUGE supporter of T5 lighting it is what I have. You will...
If you keep the K3 just keep it towards the top you can get a good circular motion.
The how many T5 bulbs on the fixture 2 or 4. I believe the 30in fixture uses 24in bulbs ... if it is only two you are going to be under powered unfortunately in a 29 gallon tank.
A 4 bulb or 6 bulb fixture(not...
Corner tanks are difficult for sumps and lights but if you have one or really like them then they are certainly an option.
I think a retro fit T5 will work well as you could have different length bulbs in the hood if you are going to get one. I think MH vs T5 is a matter of preference. Don't...
Phyl gave you a great answer. Stable enviromnent is as important as anything I think. My RBTA under 8X54W T5 moved to bottom of the tank. I am sure it has grown since I got it.
My RBTA moved from bottom front, to upper middle, back to bottom front then finally decided to sit in the bottom in the back in front of the wavemaker in the sand on the bottom. Go figure.
If the sailfin is smaller I say keep it. The 120 is sort of the minimum but I have a decent size naso and a hippo in mine and they are happy and not stressed.
From what I read the general rule of thumb is a 55 gallon or less should be completely fine. Beyond that you should research how the floors are and whatnot....I say go for it.