The way I personally planned mine out was to start with the amount of flow I wanted going into the tank. I wanted to turn over the tank water 7-8 times an hour. So multiply the gallons of your tank by 8, that's the flow rate of the pump (s) you need. I like the idea of having 2 pumps so if one dies, I'll still have SOME flow while I get a replacement. So 8 times my tank volume turned out to be 2 Laguna 2400's.
Now that I knew that, I looked up what size pipe can drain that amount of flow. That's how you know what size pipe to run for drains, and what size holes you need in the bottom of the tank.
For the size of the sump, I've heard a rule of thumb is 20-30% of the size of the tank. My sump is 125 gallons, which is kinda 20% of my tank volume. But, like tanks, biggest sump you can fit is really the size sump you want.
Then you just need to be sure the overflow box/weir can drain water at the rate of your pump output. They mostly do. If not, cut some teeth out of the weir.
So, for your 200 gallon tank, you'd want 1600 GPH pump output. You'd want at LEAST a 40 gallon sump, I'd go with a 75 gallon sump personally or bigger ir you want to have 2 pumps.
Drain lines -- The size depends how many you have. If you only had 1 drain line for the whole tank, you'd need 1.5 inch to drain 1600 GPH. If you have 2, you could use 1.25" drain lines. If you have 4 drains like I do, you could use 1 inch drain lines. There's a chart right here....
http://flexpvc.com/WaterFlowBasedOnPipeSize.shtml
This number of drain lines is very important. I know you're thinking "less holes I drill, the better". But not so fast. If you had four drain lines, you could use 2 to drain the tank (primary drains), and have 2 on standby (emergency drains). That gets you peace of mind knowing it's gonna be almost impossible to flood the house. And, it also lets you control the drain rate. If you match the drain rate to the pump rate closely enough you get ---- silence! A dead quiet fish tank. If you're off a little bit, a little extra water will creep down the emergency drains and you won't hear it. That's what a Herbie style overflow is.
How a sump works, very basically, is visualized here
http://www.melevsreef.com/node/1658 This is an article with a cool animation, but it's focused on marine tanks. You don't need a bubble trap, a skimmer, or a refugium. But, this explains it very well, and it has a visual.
I, personally, would not do an HOB overflow box type contraption. I'd buy a tank that's reef ready, or I'd drill it myself. Drilling is not bad--sounds scary, absolutely terrifying if you've never done it and you're not sure a bulkhead will really seal. Don't worry, just drill it. Bulkheads are incredibly reliable. You can always plug a drilled hole if you mess up.