nitrates should only concern you if you are keeping a reef 
depending on the media used and the flow rate, a canister filter may or may harbour de-nitrifying bacteria in the deeper layers of the bio-film. Most times not. This is why I only use canister filters for mechanical and sometimes chemical filtration. The only reason they are marketed as an all-in-one solution is because people are lazy. I would rather use a separate filter for each type of filtration I am trying to accomplish (nitrification (sponge filter/fluidized sand filter etc), de-nitrification (plants/sulfur denitrator etc), mechanical (canister filter/sump w/ filter sock etc), and chemical (canister filter/fluidized reactor etc)
Of course water changes can replace some or all of these, depending on how often you do them
(a proper drip system can replace all of these, except the nitrification)
depending on the media used and the flow rate, a canister filter may or may harbour de-nitrifying bacteria in the deeper layers of the bio-film. Most times not. This is why I only use canister filters for mechanical and sometimes chemical filtration. The only reason they are marketed as an all-in-one solution is because people are lazy. I would rather use a separate filter for each type of filtration I am trying to accomplish (nitrification (sponge filter/fluidized sand filter etc), de-nitrification (plants/sulfur denitrator etc), mechanical (canister filter/sump w/ filter sock etc), and chemical (canister filter/fluidized reactor etc)
Of course water changes can replace some or all of these, depending on how often you do them
(a proper drip system can replace all of these, except the nitrification)
. Canister filters can absolutely cover all three types of filtration, they just don't do each type as efficiently as more specialized filters. This is fine for average tank sizes, but the larger your tank gets, the more impractical it becomes. I will also admit, I love to fiddle with pvc and a router, hence most of my filtration is custom made...if I were forced to buy hobby grade only, I would definitely go with a canister