Dude, I'm pretty sure the watts refers to the total usage for the tank. 70 x 23 though... Sigh, that'd look great right above my headboard. Would be a serious pita to scape though.
Thats a nice tank. Would look nice as a reef community tank if you got really good lights, a sump, and a skimmer. Tons of smaller (3 inch) fish out there is SW.