You asked about life. The most important life is what keeps the more visible life going!

This may sound silly, but the organisms you plan for that do garbage duty are more important than we may realize. Make sure you put thought into how to set up the tank so that the visible life is provided for. The July Tank of the Month may be a good read for you. Also the Sea Star online provides some helpful information. FYI, coral are easier to keep than fish and can often be placed in a tank as soon as you add live rock or live sand.
Have fun but don't get hooked or soon we may see you with a 100+ gallon reef and being elected president of the WMAS!