I'm late with this and did not read the entire thread.. but I think a 35 gallon sump and a mag 9.5 would be more than adequate for the bioload you have.
Let's assume you have 7' of head , just as an example. One mag 9.5 would give you 610 gph, that's turning over the tank 3 times/hour.
As a comparision, I have 2 Mag 9.5 on a heavily stocked 300, very high bioload and all is well.
Remember, it's not just gph in your filter that's the key thing.. you need to manage the nitrates with water changes or some other way.
Too many people on this board (not saying you) think that putting 5X the recommended filtration is the greatest thing in the world, but it's honestly a waste of money.
The sump needs to be big enough to hold all the water when the power goes off. It's also nice for the sump to hold enough water so that you aren't constantly replacing water due to evaporation.
I would set up what you have, run it without fish for a day or two, and just see how it goes. Seems like you don't have to do anything.
Maybe buy an extra mag pump so you can have it around in case the one you have gets broken (so you don't have the stress of waiting a week to get another one).
Also, I think manufacturers drill holes in glass BEFORE it gets tempered. So yea, I definitely would not risk enlarging any holes you have.