I don't have any experience with the PVC overflow, I think Covey has one in his tank.
The Lee's specimen container overflow is safe because of the U-tube, it shouldn't lose syphon. It works on the same premise as the Lifereef overflow. I've heard horror stories about the CPR overflows and flooding due to loss of syphon.
I'm a cheap reefer as well, if I can DIY all the better. My last project was a <$10.00 kalk dripper. Good article BTW.