I'm not a big fan of drilling holes in glass for bulkhead fittings. Even if the drilling operation goes OK, it still creates a weak spot. I'm much more comfortable using a submersible pump and going over the side with hoses. You're right though to be concerned about filter costs because with a 250 gallon tank you're talking about needing a 2500gph filter, or a combination of smaller filters adding up to 2500gph, which aren't cheap !
If you're a DIY fabricator, you could actually build your own high capacity mechanical filter module and biological module pretty easily by simply building a couple of vessels out of say 36" to 48" long by say 8" diameter PVC pipe and fittings. Fernco makes 8"x4" reducing rubber couplings which secure with a hose clamp (
http://www.fernco.com/1056.html ), which are easy to slip over the 8" pipe ends and which can accept a 4" plastic bushing on the small end to adapt to your hose size (at least 1 1/4" better yet 1 1/2" for 2500gph ). To save even more money, and if you have the tools necessary, instead of using the reducing Fernco couplings and commercial PVC bushings, you could use 8"x8" standard Fernco couplings (which are 1/2 the price of the reducing couplings), and fabricate an 8" diameter by say 1 1/2" better yet 2" thick PVC end plug for the 8" pipes, drill the center of the end plugs, and glue in a PVC coupling with the right thread to directly match your hose fittings.
Then just cram one pipe full of cut-out 8" round filter sponges followed by filter floss (like
http://www.bigalsonline.com/catalog/category.xml?pcid1=1965;category_id=2569 ), and cram the other pipe full of bio balls ( like
http://www.bigalsonline.com/catalog/product.xml?product_id=24209;category_id=2561;pcid1=1965;pcid2= ). You'll probably need to add an 8" diameter perforated plastic screen of some sort at the downstream end of each tube to keep the media from trying to escape down the hose (maybe cutting 8" circles out of a plastic 2'x4' suspended ceiling light fixture grille ?). Then just slip on the Fernco couplings, hook up a submersible pump like a Danner mag 36, go through the mechanical filter module first, go through the bio-ball module after it, dump the return hose back in the tank, and you're good to go with the world's least expensive 2500gph filter. When it comes time to clean the filter, just pop off the Fernco fittings and push out the media.
It wouldn't hurt to install a tee and drain valve near the bottom hose connections of your homemade modules either to avoid a major mess factor when cleaning time arrives, and also don't forget to add shutoff valves in each of the 'over the side' hoses to prevent your tank water from siphoning backwards when you open up the drain valves !
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