With 480watts I think you're okay, but it depends on what type of corals are you looking for. If you're looking for SPS
corals, the lighting may not be enough, but for other corals I think it would be alright. Like I said to others, to know what kind of corals you're looking for and the necessary lighting, you can check at www.liveaquaria.com
as they give pretty details of what needed for certain corals, i.e. high lighting requirement or ease of keeping.
28GL BF, Hydor Koralia Nano PH, AquaClear 50 with LRR, 24" Nova Extreme T5HO, 20Lbs LS and 35Lbs LR