In general, 1.5-2 lbs of live rock is good. If you want a deep sand bed, 3" is a minimum, but that doesn't all have to be live sand to start. Most people buy playsand and innoculate it with some live sand. The LS you use can be from a bag, from a friend's tank, or fresh from the ocean from a place like Gulf View or Tampa Bay Saltwater. The fresh stuff has a lot more diversity.
For flow, I like a lot. Two 400 gph powerheads would be good. The BakPak doesn't provide a lot of current on its own.
Lighting is up to you if you won't be keeping photosynthetic inverts like corals. Whatever lights up the fish and makes them look nice.