i replace my 5# about every 6 months and running on softies in 150, and lps/sps in 40.
I really think you need a larger reactor than that for that size, you'll be adding media more often.
my reactor is a diy 4" diameter and about 4' tall.
Of course, i have yet to add media, but since upping the flow thru the reactor to keep up with needs, i'm going to have to soon.
If mostly sps in a 125, you'll want one quite a bit bigger than that coralife... Just look at the myreefcreations.com at the size diff.
The reactor in the end has no idea of what size your tank is, just how much effluent you have to put out to keep up with the ca/alk needs of your tank. and how much media you'll go through/co2 to melt media = how much you have to maintain reactor.
I plan on changing my 5lb to a 20lb though so will be LONG time before needing to refill again.
I definately of the camp that you want to use a ph controller in line with the recirc of the reactor. Not after it. as your ph in that line will fluctuate with the controller reacting within a set range, my pinpoints smallest range is .5 if not mistaken. But, since it is in the line for the recirc of the reactor, and have 2nd chamber the tank ph doesn't fluctuate that much in a day, even though the ph controller is kicking the solenoid for the co2 on and off every few minutes.