I don't like to run drain systems at or near 100%. IMO it's risky. Besides, you only need enough flow from your return pump to serve the needs of your filtration system. You then add additional flow using powerheads.
So how much flow you need depends on your filtration setup. You can look at your skimmer's flow requirements (usually available from the manufacturer), look at how much flow you want in your fuge, etc, and get your desired flow to meet those specs.
A 1" u tube overflow with a 1" drain bulkhead should be able to handle about 600GPH max. So I'd use a Mag 7 or similar with a ball valve on the output to throttle it back if necessary.