First tank

[Starry]

Hi all,
Just a few questions from a newbie. (although I have been lurking forever)

I will be purchasing a 70 gallon(48x18x18) tank with 80lbs LR. It comes with 4 NO 30watt flourecent tubes and 2 175watt MH. It also has a prizm skimmer (plan to replace this) and 2 aquaclear 50 filters (will be using these as well as my fluval 404 with carbon for current) and 2 powerheads. Has no fish but does have tons of hermit crabs and a few snails.

My question is if the tank is now established, how long do you think I will have to wait before adding any inhabitants? I realize I may have a small cycle after I setup the tank again, but it shouldnt take more than a week, no?
Also, with this type of lighting could I pretty much have my pick of corals? Plan on making it a reef tank with mostly corals and zoos only a few fish and inverts.

I have been doing freshwater for about 15 years but other than research, haven't done anything with Marine aquaria.

Starry