it sounds a good set up but i would invest in 2 t5s because the corals will have a hard time and you wouldnt be able to keep much if anything with a 50/50s they just dont give out the needed light out put for corals
now the AC 50 with sponges and rings well i would remove the media and replace it with live rock rubble as it will provide a much more better filtration for the system or even mod it into a refugim its simple and very effective also very benerficeal for a small set up the 20lb of live rock in the system provides most of the filtration unlike in freshwater where you would have a pump pushing the water through different medias to clean and remove debris from the water
http://www.fishforums.net/index.php?/topic/144837-diy-refugium-conversion/
algae
http://saltaquarium.about.com/od/aboutcorallinealgae/ss/coralline.htm
coraline can be a real pain when it starts growing on the glass sometimes a razor blades the only way at removing it
im glad your skipping the skimmer their really not needed on 10g nanos as the weekly maintance does the trick better
addatives you can buy ammonnia for starting the cycle but really you can just add a few fish flakes or a prawn or such to start the cycle
eventually when you have corals you may want to add calcium additives but check your calcium first but most aquatic stores will give you advice on if you need calcium
-Zoanthids = coral
-Entacmaea quadricolor = bubble tip anemone
-Tridacna crocea = crocea clam
-Lysmata amboinensis = skunk cleaner shrimp
-Amphiprion ocellaris = ocellaris clownfish
zoanthids are perfectly fine as long as its mature
bubble tip anemone agen fine as long as its mature not just cycled fully mature
crocea clam very hard to keep in a 10g nano but not impossible as long as its requirements are given
skunk cleaner shrimp great for the set up
ocellaris clownfish great clown fish these can go in when its cycled it doesnt have to be mature for these fish