Thanks guys. ReefCentral is like a second home for me, so it means a lot to get all the congratulations here. Thank you. And Jaugermeister - I've got a cigar with your name on it waiting here for ya.
I received the 3/16" plastic rods from USplastic.com. I've got to say, I like these MUCH more than using stiff airline tubing. I bought a bunch, but it's super-cheap at only 9 cents per foot. I was paying $1.99 for each 4 foot airline tubing rod, so this is a much cheaper way to go. Twelve feet should be plenty for most tanks and that costs just a bit over a buck. You can't beat that. More importantly, it is much easier to work with. The airline tubing couldn't be cut using wire cutters, because the tubing is hollow and it would get squished a bit when you'd squeeze down on it. This would ruin the round shape and make it difficult to slide into some of the peg holes. So, with the airline tubing, I was forced to cut it with a Dremel. That took a lot of time. This acrylic rod from US Plastic is solid and you can easily cut it with wire cutters. That makes cutting up a 6' rod into 1-2" pieces a couple minute project. I went ahead and ground the edges to a rounded point, which added half an hour to the project, but that really isn't necessary.
The tubing is also a bit stiffer than the airline tubing and is perfect for this application.
Here's the project, part way through (after being interrupted by my daughter a couple times

:
And the obligatory close-up:
If you want to do this, here's where you can get the rod:
http://www.usplastic.com/catalog/va..._name=21315&product_id=18413&variant_id=44652
It's item #44652 and it's $.54 per 6' rod.
BTW, I tried this rod in the pvc sheet that was pre-drilled with 3/16" holes and it didn't fit any better than the airline tubing. Yes, you can squeeze it in, but it's a very tight fit. In the holes I had expanded a bit with a 3/16" drill bit, it fit perfectly, as I expected it to.
On the off chance that it might be a better fit, I also tried a sheet of the PP pre-drilled plastic sheets (item #42562 from USPlastic.com), which has the same sized holes.
This stuff is more translucent than the PVC sheet (and it's about half the price), but it is just as tight. Between the two, I can't really say one is better than the other, so I'd say go with the cheaper one. To be clear, though, this is only if you want to use it like egg crate in a frag tank. In my display tank, I plan on using the pegged corals by inserting them into the holes I've pre-drilled in my live rock.
On a different subject, Nick has done a great job helping with all the plumbing and I can't wait to post the pictures, which I'll try and get to in the next couple of days. He has done an outstanding job and it really is a piece of art.
Thanks again for the kind words about little Eva. BTW, I appreciate the advice on getting a good backup drive. I'm on it.
Cheers