Will this 40 gallon setup work for a nano reef?

[sirmichalrocks]

I plan on getting a 40 gallon breeder tank (36l 18w 16h) for a nano reef.
http://www.petsmart.com/product/index.jsp?
productId=3804450&lmdn=Shape&f=PAD%2FpsNotAvailInUS%2FNo

Lighting: 36" AquaticLife T5 HO and Lunar Light Fixtures (4 bulbs + moonlight)
http://www.aquaticlife.com/products/286

another light idea is the 36" 156W Coralife Lunar Aqualight HO T5 Lights
http://www.drsfostersmith.com/produc...m?pcatid=23758

Substrate: CaribSea Ocean Direct Fine Oolite Sand (40-60lbs)
http://www.caribsea.com/itempage_mar...ceandirect.htm

Rocks: About 50lbs of Dry Rock or Dead rock live rock, whatever its called.
http://www.marcorocks.com/50poundbox...inentalus.aspx

Filtration: I plan on getting a sump with a refugium but don't know whats good these days. What do you guys recommend?
I also own a Rena filstar xp4 canister filter which i plan to use as an addition holding the appropriate necessary filter media.


Water: I plan on getting an RO/DI unit from Bulk Reef Supply.
http://www.bulkreefsupply.com/brs-4-...tem-75gpd.html

I'm hoping this setup will allow me to house most if not all types of coral.
You guys are the experts, i'm new to this so please give me your input.
Thanks