Good post, Robert!
GVT, if you mean overflows with W/D in a sump, my choice would be the canisters.
Main points are that they are less noisy and there is no need to be afraid of evaporation and running the pump dry (very important when you have long vacation, etc.). Less plumbing, no need to shut the filters while changing water, no drilling, etc. There are some other valid points, but they're not "as major" for me.
Naturally, sumps are more versatile and have many good features. I run this setup in my 125gal Rift Lakes tank, but if I start all over again, I'd choose canisters. And if I drill again, I'd, probabaly, go with back wall inlets/outles instead of overflows. This would allow me to automate my water changes, etc.
But, I guess, you should try sumps to draw your own conclusions, feel it better, think over the alternatives, etc. Just, maybe, it makes sense to try it on a smaller tank to limit your losses.