Instead of the running the fluval 404 as mech, run it bio, and add an AC110 or two. Power filters are just as good as canisters in the right application, and the right type.
Canisters are very good filtration but they have one serious flaw that people tend to overlook... One of the key advantages to a canister filter is that it needs cleaning out a lot less often...the problem with this is that...while the gunk is bieng removed from the tank efficiantly it's NOT bieng removed from the water...the uneaten food ect. still rots and eventually poisens the water.
HOB units are VERY simple to clean and dont need to be broken down to do it.
One of the main complaints with HOB filters is their dependance on manufactured cartrages but thats not necessary. AC 110's and even my favorite...Emporers can be run on home made easilly cleanable media rather than what they come with.
When you divide the work up into more systems then each of those systems do less work individually and cleaning out any one system has very little impact on water quality.