I'm going to be doing just what you are hoping to do. I'm setting up a mildly aggressive pseudo reef tank. 75g tank, black volitan, bluejaw trigger, zebra moray eel, twin spot wrasse, and maybe a spiny boxfish. Live sand, live rock, and a few soft corals/leathers, maybe an anemone. It can be done, you just have to plan the whole thing out and make sure you've got all your bases covered.
And you can have live rock with those fish, and if you're careful, you can pick corals that will be fine... it's inverts that are the real problem.