I think the biggest problem that I am going to have with this tank is the lack of gas exchange. What would be the best route to help release gases for the long haul? Should I stick with an air pump and stone, or look into a Kalk reactor. I would like to keep this set up as clean and simple as possible. This concern was brought upon by my pH being around 7.4, but that may be also because I am using salt mix for reefs and I don't have anything to reduce the Calcium or Alk. Should I go ahead an put some corals in this bad boy to help balance the levels?
I don't have a tank thread on this site (and they won't let you post a link to other sites), but if you want to see my very simple tank setup you can hop on over to Nano-reef (add the '.com' at the end). My username over there is the same, so you can just use the 'Search' function, input my username and pick 'Posts only'.
To keep it all as simple as possible, these are the things you need to consider to have a thriving aquarium:
1. Proper lighting
2. Sufficient flow
3. Proper temperature
4. Proper water chemistry
5. Evaporation replenishment
6. Appropriate foods
7. Proper maintenance schedule
The creatures that you would like to keep determine your setup. Inversely, the setup you have determines the type of creatures you can keep. Different corals, different fish, different invertebrates can have quite different needs which the aquarist must be aware of.
To answer you specific questions...
You can run an open top tank like this with just the return pump and a Hydor oscillator. Since these are open top tanks with a built in overflow, you should have plenty of gas exchange with a good return pump. The idea behind the overflow is that water will cascade into the back chamber, drawing surface scum from the main tank with it. It also helps to oxygenate the water which is very important in a reef tank. You need to adjust your water level to get this cascade effect (about mid-way up the slots in my tank).
Ph 7.4 is a bit too low (acceptable range is 7.8-8.4). Your alkalinity and calcium may not be correct (test kits needed). Your salinity needs to be around 35ppm (1.025 Specific Gravity) first, then test for alk and cal. Most reef specific salt mixes have good alk and cal levels. Levels drop over time relative to the volume and type of organisms that are in the tank.
Corals and fish should only be added after you have all parameters correct and stable. In a new tank, Ammonia and Nitrites especially, must read '0' with a test kit before adding anything.