Sumps are easy. All you need is an overflow box, a spare tank ( that old 55 would make an awesome sump), and a return pump. Do some searching in the " setup and filtration" section for different sump designs. Drips aren't anything more than a fresh line into the tank and a drain from the sump. As for a nitrate filter, check out SantaMonica's write up.
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man im in the same boat but it's more of my tank being over stocked than nitrates in my tap. what i can suggest is make a auto drip system? people report that their nitrate levels dont usually go over 20ppm, heavily planted tank is another way but if you have fish that will destroy plants that's not an option also not to mention the added maintenance of a planted tank. What im going to do when i get back in the black financially is make a nitrate filter. im going to coil some sprinkler tubing into a 1-1/2 pvc pipe filled with de-nitrate and run low flowing water through it to colonize some anaerobic, de nitrating bacteria.
alcohol? i never heard of that but that's interesting thing to consider...
i was under the impression that it worked sort of how live rock works in salt water setups. dont think those need alcohol.