My first tank a 45 gallon wasn't pre-drilled so therefore since i was using
LR as my filtration system i had to buy an overflow box and then we made a refuge (you could use your wet/dry rather then a refuge) for it out of a normal 15 gallon. The cons to this set up was it is kind of noisy because the water runs into the overflow box and it gurgles and sips and we also had a sponge in our over flow box that colleted stuff and if we for got to change it after a while our water would over flow so we had to remember to change it every 2-3 weeks
My new tank 150 gallon I actually bought used (you might want to look in your local paper mine was a GREAT DEAL because it came with everything i mean we switched stuff with better stuff but a great deal) but it is pre drilled and I have basically the same set up (we converted the wet/dry into a refuge) but a much bigger refuge in the bottom.
IMO is actually a lot quieter and it won't EVER over flow. The con is you have the pipes either in one or two spots in the back of your tank that take up a little room.
HTH 
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