Converting Reef to FOWLR

[Gizmo]

So I'm thinking of converting my 260g reef to Fowlr. I don't have a lot of coral in there, pretty small stuff n frags and I have a 70g I was thinking of moving them to. I also have an 8" Clam I would like to keep in the big tank, but I'm sure angel's will pick at it?
So I guess my question is has anyone converted before? Do you keep lots of rock like a reef, or move a bunch to the sump to allow more swimming room? I have a 3-4" Black sandbed, should I take some out or can I leave it as is? Oh, and here is a stock list, which ones should probaby move to the 70g?
2 Perc Clowns
1 Black Perc
1 Maroon Clown and GBTA
1 6" Foxface
1 4" Yellow Tang
1 4" Blue Throat Trigger
1 1" Damsel
1 Dragon Goby
1 Bristle Tooth Tang
1 10" Tang (not sure what kind it is, but its big and green, sometimes turns completely white)
1 Cleaner Goby
2 Cleaner Shrimp
1 Yellow head jawfish.

I would like to get Dwarf and Full sized Angels, maybe a stars and stripes puffer.

Thanks for your e-pinions.