i would go with the MH i have seen to many corals bleached out or burnt with leds to feel confortable recomending any, exept radion led's found they are the exeption.
for that size tank i would do atleast a 180 gallon wet dry sump and as far as skimmers go i reaky dont know u mght want to look into a custum for that size tank.
the light u mentioned probably wouldent work that well led can be harsh on corals it can burn or bleach them i would go with a t5 or evin a power compact. but that power head will be great
i have hatched bamboos to sell before and the purple to me looks like coralline algae so i would back light them to see how the shark is developing u should be able to see the sharks outline by six weeks :)
if u do frequent water changes a minimum of 50% a week u can keep the start up costs down. i have kept 5 gal reef tanks with only gravle a heater and a small pump not evin a macanical filter. so the main fact that i cant stress enough is whitch ever direction u go in ( fish only or reef) do...