I didn't notice you were local. :hi: There are several people around here with diamond drill bits who might be willing to drill if you change your mind.
Your setup sounds very good. You will also have access and viewing opportunities with the fuge that way. Try to rinse/wipe salt splash as much as you can, because the metal will really want to rust. It would be worth an extra coat or two of paint before you get the tanks set up.
If you want to do less demanding corals, I have seen good results with 2X65 watt PC fixtures, but there are many options. T5 seems to be really taking off, but I don't have enough personal experience yet to tell you what would be good for you. The way things usually go, you will be wanting more intense lights in no time, so it might be worth investing in a more intense HO T5 or metal halide setup at the outset.
For a reef, go with about 1.5 lbs/gallon live rock. I like a deep sand bed (DSB), innoculated with good live sand myself as well, but there are plent who like bare bottom tanks. If you go BB, a DSB in the fuge might be helpful.
You're lucky to be down in VA. There are a few good shops down there. Blue Ribbon Koi is new on the marine side of things, but Johnny is marketing aggressively toward us and he's winning a lot of business.
I am a member of WAMAS, which actually has a much larger representation in VA than Maryland or DC. The group is very helpful, especially with hardware stuff, so you might check the link in my sig. Just remember to jkeep coming back here to keep us updated
Let me know when you're ready for frags.