sorry it took me so long to respond.
i was in the same predicament you are, so i opted for the 29reef. it is working well so far. it is hard to keep the calcium in check, because you can add too much really quick. my motto is "you can always add more." why put too much in if it can hurt the fish/corals?
for liverock i got it from here. (25lbs package) it is good stuff, and helps to keep the biological filtration going.=less work for me, and more constant conditions in the tank. the more you can get the better, i think around 40lbs would be ideal. it would give you something to build around. a deepsand bed (dsb) is a must. this helps bio filtration too. the lr cost 109 and for sand i got 40lbs of Arab reef sand, and 20lbs of the prebagged live sand that you see sitting on the store shelves at petstores. deathco has some for 20 bucks, but if your lfs has it for around the same price i would get it from there, because you want to develop a good relationship with your dealer. trust me it will help you out in the long run.
test kits can run up your costs, but they are a must have. if your ammonia, nitrite, nitrates and ph aren't good you won't be able to keep fish, or corals.
reef tanks require more lighting than fish only tanks. for most corals you need around 5-6 watts per gallon(for others who read this i dont want to start the watts, lumens, etc. lighting debate, nor do i recommend going by watts per gallon)5-6 watts per gallon will give you a large variety of soft corals to choose from and some hard corals. lighting can drive up your prices quickly too, but you have to have light for your corals and fish to thrive. and you want to see them when they are at their best.
i would recommend starting off with a protein skimmer for your tank too. i have one in my tank and just covered it up with liverock. then when your tank gets established you can take it out and have more room for corals too!
I started without the tank or anything else saltwater related. i built my own stand, have tried to find everything as cheap as possible, and done some diy projects to keep costs done. With all the things i have right now i have spent around $600. I'm sure if you know the right people you could do it for less. That is not an estimate, since i have a running total of all the things i have bought. The price includes some great books to help get started. Make sure you research alot. i made some stupid mistakes that could have saved me money, but you learn best by experience. if you have any questions everyone on this board will try to anwer them to the best of their ability. don't be afraid to ask either. if i had the money i would have done a bigger reef tank, but when it gets bigger you spend more money on water, electricity, sand, lr, everything. the price i gave you earlier would probably double, but your tank would be much more stable, and you could have more things. if i was rich i would buy the best of everything and have a huge tank.
this is why i have a 29G.
sorry this is so long. i didnt want to leave anything out. i hope this helps.
Z