That is a nice tank to do a reef in, almost bought one myself! 2poor makes a good point! You should research what types of corals you want to keep beforehand!!
IMO watts per gallon is more of a guide if you are using fluorescent lighting. If you go with Metal Halide lighting the watts pre gallon isn't the issue, only the depth of the tank. For your tank ,I would say a 175 watter would be fine to keep soft corals under. With this wattage, givin the bulb was a 6500k , anything placed within 8 inches of the surface would be considered in high light. Past that would be medium light. With 250 watts high light would go to a depth of about 14 inches ,and with 400 watts 24 inches is still high light.
Now as for Kelvin ,with 6500k you still need actinic lighting to aid in coral groth. With 10'000k and higher ,there is enough actinic lighting mixed in to use only a halide bulb. But ,heres the catch. With 6500k bulbs you get higher growth rates ,less colloration. With 20'000k bulbs you get very good colloration but slower growth rates. Go to Marine Depot.com ,there you will find (under metal Halide lighting), pictures of the differant collors the differant kelvin bulbs put out.
As for a pendant, I would go with a PFO Horizontal pendant. I had a bell pendant over my 29gal ,and the output sucked!! I had a 175 6500k bulb ,and the collor was too yellow. Switched to a horizontal pendant and not only was the collor more white ,but also twice as intence! I would say a 250 watt 10'000k would suit most of your needs just fine. Just hang the light about 2 inches from the surface of the water. And remember ,coral placement is the key!!!
Sorry this post is so long, feel free to email me if you feel the need.
Good Luck!!
C Mitchell