I believe your powerheads are numbered so because of their "gph", or gallons per hour. For a fish only, I would say that thats probably a bit of overkill. For a reef, though, in a 55, I would say that those two flow outputs in their direct, laminar flow form are pretty much too strong for most corals, directly speaking.
When you do your reef tank-setup, work on diverting and varying/oscillating the flow of those two power heads to create more turbulent, rythmic motion in the tank, like wavemakers and flow diverters/switches.
www.liveaquaria.com has great stuff in that department; do a search on "water movement" or "wavemakers".
800 gph and 301 gph is a lot of flow just straight up, even if its shooting against a pane of glass: if you dont want to dump cash into a wavemaker (even that 45$ power-strip one), go to a plumbing store and get some y or tri-y diverters and some clear tubing and some appropiate suction cup holder/things, and play with pointing the flow around to make the best flow and turbulence characteristics possible. Remember these two things about water flow, especially in a reef: adequate flow means low algae problem factor, and, depending on how you ppick and arrange your corals, adequate flow keeps every coral healthy and makes an awesome scene/show!
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