Depending on your return, the head pressure might be all you need to even everything out. On my last tank I had a 300gph overflow, but a mag 5(500gph) return pump. I never had any problems with needing to regulate it.
I have my canister intake coming from the first section of my sump/fuge, and the output in the return section of the sump. I did this because I like to keep as much equipment out of the display as possible.
If you want to come take a look at my stuff, just send me a msg here or hit me up one day at work man
Lionel