Rather than a Closed Loop, a design which has lost favor since you were last here, I would consider the new powerful stream pumps as an alternative.
I would also drill only one hole up high as the drain in a small overflow box and let the powerheads move the majority of water to better enable the intank biofiltration.
That's my 2 cents.
Edited by Mark Peterson - February 12 2012 at 11:35pm