I just setup a 29 and after some forum reading decided on the AquaClear 70 (300GPH). Compared to a Marineland 280 I originally purchased, this filter has impressive flow without causing disruptive turbulence in the water.
Benefits of the AC line of filters I have noticed (having owned many Bio-Wheel ones):
1) It is very quiet compared to the Penguin, I actually look at the flow to make sure it is on.
2) As the name implies, the pickup tube and body of the filter are "clear", so it blends in much better with the aquarium. This was especially noticeable after having the gigantic black pickup tube of the BW filter.
3) The filter/media storage compartment can be custom packed to suit your aquarium needs. You can run the standard mechanical filter at the bottom, charcoal in the middle and the bio-chunks / bio-balls at the top. After the materials that came with the filter are ready to be changed, you can eliminate the carbon, add more, or add in any other media filter in a bag.
4) The AquaClear has a pretty neat mechanism for turning down the flowrate of the filter during feeding time. It also claims that turning the flow down increases circulation of the water through the filter media, resulting in increased reaction time of the water with the media (I cannot verify this, but it sounds cool . . .)
From what I noticed, the other HOB filters with the blue slide-in inserts are pretty limited as to how you can customize the media setup. You are kind of stuck buying their pre-packaged filters that have I would say very little carbon in them. I know this sounds like a huge dig on the Penguins, so feel free to post any pros those filters may have over the AC line.
One last note, I am powering a PerfectaFlo UGF with the pickup tube from the AC 70. This is kind of an experiment of sorts as I have never owned a UGF. I want to try my hand at a planted aquarium. I currently have 2 to 3 inches of small and medium river pebble gravel mixed over the top of the UGF. Cycling was started with a beta last weekend. Beta was removed and 16 Blood-Fin Tetras were added this weekend. I asked for 12, but came home with a bag of 16, gotta love the LFS. Plan to add local-sourced driftwood log and some more plants to the tank next weekend.