Welcome to AA!
As far as lighting, a T5HO fixture will likely be the most economical choice for that size tank and would allow you to grow most any LPS
or softie and some of the easier SPS
. Metal halides or LED
would obviously work too, but may be overkill. Coral compatibility is more about knowing their needs and placing them appropriately. As far as filtration.... a skimmed sump is generally "the best" but not required. A sump allows you to hide equipment and increase water volume. The skimmer will remove dissolved organics. Adequate flow and PWCs can also do a lot on their own.