If the holes are 1.75", they should accommodate standard 1" bulkhead fittings. With two 1" drains, you should be ok running the Max Flo 2000 or the Max Flo 2400. I think the 2900 and the 4280 models will overpower your drains, so I would stick with the 2000 or the 2400.
As others have mentioned, there are lots of options for designing your sump; filtering out particulates (mechanical filtration) and having plenty of surface area for your beneficial bacteria (biological filtration) are all you really need. I like to keep it as simple as possible and just have my overflows drain into filter socks and I use submersible media (Pond Matrix) for my bio. With this design, you really don't even need baffles.
Filter socks require a bit more maintenance than foam in that socks will typically have to be cleaned about once a week; although it is a pain, removing the waste that the socks catch is good for the health of your fish. Using foam you can go a lot longer between cleaning, but the waste trapped in it is essentially rotting fecal matter and will contribute to higher nitrate levels until cleaned.
*If you decide to use filter socks, just be sure that when they clog, the overflowing water falls in the sump and not on your floor. At some point they will clog, so be sure you take this into consideration in your design.
Good luck!