Just thought I'd throw my .02 in here.
1st off: Jim27's advice/opinions are sound in my book. Especially his view on the all too common misconception that sharks are "for experts only." IMO your average dwarf angel is more of a challenge than your average shark.
MelbourneFL's statement on sharks needing to swim constantly was of my doing. He and I had a conversation about the black tip reef shark I intend to buy (which by the way IS a requim shark) and I informed him that the shark must constantly swim to survive.
LR in a bamboo shark tank is not a problem. Excessive LR is a problem. This has nothing to do with the sharp edges on the rock. Think about it, these sharks live in an environment with lots of rock, coral, sharp edges etc.... On the other hand, too much LR leads to problems in the home aquarium, such as too little swimming space, and the dangers of falling rock.
Last but not least: As I have said before, just because you don't currently own a 500 gal tank, does not mean you cannot purchase/hatch/raise a shark, and does not deem you irresponsible. It sounds too me like Elkhntr is genuinely interested/commited to keeping a shark. So I say, if you want the shark, and have a reasonable amount of space, get it.