I didn't know there would be a test!
Am I going to tell you that your idea won't work? No. I have a couple of friends that have great looking reefs and they use the same setup as you describe.
My take on flow is that it is necessary to help remove waste products from the corals and to keep that waste (along with fish waste and uneaten food) suspended in the water column as long as possible. This will maximize the possibility that it will be skimmed out of the tank by the overflow and not settle to bottom to decompose.
Ideally, I think you would want to avoid "dead spots" where sufficient flow does not occur. Steady constant water movement patterns
may lead to certain areas where flow does not reach and create places where detritus will settle.
I think random flow is the way to go. With the direction of flow constantly changing and colliding with other currents within the tank, there is less of a tendency to create dead spots and waste will find it more difficult to settle on the bottom.
For my system, I want to establish random flow. That's why I went with an OceansMotions product. Is this the only way to achieve random flow? No. Personally, I don't like powerheads visible in the tank. While systems like the Tunze Streams are very efficient, I personally don't like the look of two huge powerheads hanging on either side of my display.
It's a matter of preference. If having powerheads hooked to a wavemaker scattered inside of a tank isn't bothersome, then that is a simple way to accomplish random flow. I just don't like to see it.
As far as cost goes, many people will buy a wavemaker (like the Red Sea Wavemaster Pro) and three or four powerheads. The cost of that set up is not much less than just getting an OceansMotions Squirt or 4Way valve.
I like the OceansMotions products because they are simple. They take one main artery of water flow and channel it in many different directions (from 2 to 8) from different locations within the system, creating random flow. They do this with the least amount of effort and they do it very quietly and add no heat to the system, as with powerheads. They are also reliable, with the only moving parts being the easily replaceable drum inside and the motor (which is used in the medical field and can possibly last 15 years or more). It is also easily replaceable. The drum inside can be replaced with different versions to change up the flow patterns.
Lastly, with an OceansMOtions product you will get tremendous customer service and technical advice tailored to your system. Paul Hayton at OM and his wife Cass are a real pleasure to deal with. I have talked to Paul on the phone several times about how to set up my system and have exchanged emails with him at 2am about problems I was having in design. His personal cell phone number is on the front page of their web site. Paul will help you with any problems with the product , even though most are the result of irregularities in plumbing.