PB, what you are trying to do can work under one condition. Diligence. If you are willing to do a lot of manual husbandry and eventually and slowly upgrade and make modifications it is very well possible to have a great looking tank.
Although I am a huge advocate of getting the largest skimmer that your money can buy, I have seen people keep successful reefs without a skimmer. Although you will not be able to keep sps in suck a system there are plenty of softies that will do fine.
The one thing that yo have to decide before anything else, is what you would like to keep in the tank. Make a species list and then we can guide you with the rest.
One fact is that depending on what you want to keep will detrmine whether or not you need a tunze stream in the tank. There are quite a few apecies that can not handle stong flow at all and will perish if placed infront of a tunze.
The important thing is that you start on the right foot and not have to make expensive changes later on.
OK thats a start!!
SPS require lots of light, clean water, and good flow. I think with the equipment you have you should domething aalong the lines of what Dave (SPYKES) has. His setup is basically a 40g tank, superskimmer seio for flow, and a Tek T5 lighting hood. He has no sump, no calcium reactor.
What equipment do you currently own? And what is your budget? You can PM me if you dont want to post it.
You have to start but figuring out what you want to keep vs. what you can afford. The world contains high flow, high light reefs and reefs with dirty water and little light (comparatively). Just like their is no way to keep a horse "for cheap", there is no way to keep SPS "on the cheap".
Many people start with a FOWLR tank (fish and live rock) they add some shrooms and zoos which don't have very high water requirements or light requirements and some feather dusters. Over time they get better equipment and new doors open to them. You're better off keeping what your budget will allow and letting your tank grow as your budget does.