As for whether the drain should be at water level, one above/one below, all that......let's think about one overflow for the whole tank just to keep this simple to explain. Originally, you'd have a single drain, water would fall in it and exit in the sump. That was pretty loud, so they invented the Durso standpipe. That was kinda hard to adjust, not quite quiet enough, so they came up with the Herbie drain.
Herbie would have drain about 6 inches below the water level with a very finely adjustable ball valve or gate valve. The second drain would be an emergency, in case the ball valve got slimed up a little and started draining a little slower. After a while, with no backup drain, you'd eventually flood the house. The emergency drain is at or above the water level, depending how quick the main siphon is draining, and it drains the overflow box if the main siphon drain falls behind the input rate of the pump. When that starts, you open up your ball valve a little to get the main siphon drain to match the pump output rate, so the emergency drain is dry.
Then, they came up with the Beanimal. It's a Herbie with 3 drains. It's an improvement over the Herbie in that it is truly self tuning, automatic. I have to adjust the valve on my Herbie setup every 2-3 months for one reason or another. You never have to adjust a BeanAnimal.
I have a Herbie on my tank. I wish I would have spent more time reading about the BeanAnimal and coast-to-coast overflow. I thnk it's the way to go if you're having a tank built.