I've only had a brief look at the 29 but own the 14 so there is a bit of guestimating here.
If I had the tank, this is what I would do (the full mod fun. choose what you would do)
1) mod to add 1 more PC. I bet nanotunners has the kit for this. It won't be super high light, but it will help. MH is still too hot fr the plastic hood IMO.
2) replace the pump with a higher flow (and less heat) one. I'll look up models later. Use the hydor output to modulate your flow. Add in another power head in chamber 1 internally or externally.
3) increase the baffle spill over from C1 to C2 by widening it
4) don't bother with the skimmer (I hear people don't like it much) and remove the top C2 filter.
5) conver C2 into a fuge. Razor blade off the black paint so you can use a 13watt PC light from the backside. Fill C2 with cheato.
6) use C1 or 3 for carbon/purgen etc.
7) use a stealth heater in C1
8) use dead space in C1/3 for more rubble. Came in handy recently for seeding my new tank from the rubble in the back of my BC14
hope this helps.
BTW, you can very easily use the tank AS IS if you dont have demanding coral in there.