Lisa, thanks for the suggestions. so if i understand you right about the hogfish and wrasse, you would do the wrasse OR the hogifsh BUT not BOTH? im curious why?
I would definitely do both if I thought they would get along. Don't know the answer. Someone with experience should advise you. Hogfish ARE wrasses, so it would be having a wrasse and a wrasse.
I think hogfish would be okay with peaceful wrasses, but maybe not with something similar to a six line. There are some really nice smaller wrasses that would do well in your tank. have you considered some of the smaller and hardier/less expensive fairy/flasher wrasses? I don't have experience with these, but they are gorgeous. downside, they are jumpers. also, not sure if your tank is big enough, but at 48" long, I'd think it would be okay for a pair...
This wrasse has a reputation of non being wrasse-friendly, but how about a secretive wrasse as an alternative to the more expensive mystery wrasse?
http://www.liveaquaria.com/product/prod_display.cfm?c=15+1378+1152&pcatid=1152
I think you will be able to find some very nice options at reasonable prices. I'd go to sites with pretty reliable information on species, such as bluezoo and liveaquaria, and just browse in their online catalog to see what is out there and how the prices (in general) look. Then you can come back here with your list of fish you like to ask about hardiness and compatibility.
Some of my favorite fish for smaller tanks:
dwarf lionfish - can't get much more spectacular than that, and lots of personality, and inexpensive if you get a fuzzy dwarf. some keep them in reefs with good success, but bioload and getting the risk of the fish getting stung by coral may be an issue.
leaf fish scorpions - they can be hard to wean to frozen, may need live for good. but they are hardy, with cool behavior and can be kept as pairs or trios. they can't handle super high flow, and should not be with fish that will pick on them or outcompete them for food. they may not be ideal for your reef set-up.
orchid dottyback - mentioned before. they are hardy, pretty peaceful, have awesome color. won't break the bank.
dwarf angels - they might go after your corals, but an angel of any size is a centerpiece fish in the right setting. Flame angels are really beautiful, as are coral beauties (one of my favorites). for your tank, a pygmy (cherub) angel would look really nice. the Florida species is going to be around $30 or so.
Sailfin blenny - I had one for years, great fish. look at the starry blenny, which is related, and very striking.
Shrimp goby/shrimp combination - consider getting a goby (maybe a watchman) and pair it with a pistol shrimp, such as the tiger pistol shrimp. fascinatiing.
if you want to buy just one or a pair of very cool fish, consider an angler(s). Wartskin anglers are very expensive, but you could find a painted, sargassum or hispid angler closer to your price range and within your budget. you'd need to keep flow moderate at the bottom where the angler would live, but they can do pretty well in reefs.
Totally a non sequitur, but you are so lucky to be reefing at 14! I got started in the hobby around the same age you are - I'm 47 now, so I've been at it a long time. Hate to date myself, but my first tanks had slate bottoms, steel clad corners, air powered undergravel filters and dolomite substrate! No such thing (that I could get, anyway) as live rock in the 70s. The selection of fish was limited, and there were no mail order fish sellers. And the internet did not exist! I've been through all the technological advances, even got to test a lot of equipment in one of my jobs.
This is a great time to be keeping reefs and fish. Enjoy!
