t5 lighting would be fine as long as you have individual reflectors on each bulb. i have a 75g sps reef and use a 6 bulb tek fixture that can grow sps anywhere in my tank. I don't like the hob filters but i guess it would be okay, i would rather have a sump but if its not an option then work with what ya got. as far as circulation some powerheads and some live rock for a bio filter would be wise as well. i would take water from your current tank and use that to set up the frag tank. i also have a 24g nano/frag tank and have 2 24w t5ho bulbs and grow sps frags in there as well, they don't grow very fast but i don't keep up with the tank as well as my main display. here are some pics of my sps under my t5s.
blue tip stag
