1. Use a mag 7 for your return. You'll be happier with it
2. I'd beef up the stand a bit. I'd put a second 1x4 on each leg on the inside. You already have the space eaten up by the frame for the top and bottom, you might as well get the extra strength from it.
3. be sure to brace the back somehow. A diagonal brace or some plywood on the back will do the trick. It'll keep it from racking side to side.
4. Drill the back glass if the bottom is tempered. I'm not sure if it is, but I drilled my back w/o issue. I didn't look into the bottom.
5. use a pair of Koralia Evolutions as wave makers on an RKL. I'd get the 1050's if they're your only PH. Put one on the left and one on the right and have them on alternating timers. I'd cycle them every 3 mins or so. Coupled with a mag7, you should have plenty of flow. An mp40 or pair of mp10's would be damned nice too, but they're pricey.
6. I don't know if lighting has come up, but 4 bulbs is plenty. I have a Tek 6 bulb light and it's too much. I'm only using 4 right now. Front to back coverage is just fine and the intensity isn't too much for my LPS like I noticed burning 6 bulbs. I'm running ATI bulbs wiht a fiji purple.