Coming from a structural engineering background, i think the steel/weld should be ok with respect to shear... however i think your problem will be as you have noticed - flex.
steelwork mainly fails by the middle part twisting (to put it simply) so any long spans should be kept to a minimum. The welding i would imagine (as long as it id a 6mm full penetration fillet weld) will be fine.
i would be concerned about any gap under the tank, as all tanks i`ve seen split, have split on the bottom! get to a good DIY store, and get some 18mm ply (the higher grade the better). this can be used as a top, but also will be great for stiffening up the sides (to form more of an enclosure than framework)
i`m currently looking to get a 7'x2'x3' (i think) which has a capacity of 1.3t of water! - i`m making a base for it out of 3"x3", with full length timbers running the long span of the tank (to distribute load) and 3No. supports along the main span... this reduces the work on the long spanning timber.... .its also much cheaper/easier to work on, and will suit our living room as it is all chunky timber!
hope this has helped, and if you want a sketch of my plans, i can get one posted (3D AutoCAD!)