Had the 40gal for just over a month now (transferred rocks and much of the livestock from a previous tank):

The acro behind the black clownfish is a. gomezi that I am going to try to nurse back to it's original blue color after aquiring it cheap from someone getting rid of his tank. And I am just WAITING for my pink birdsnest to actually turn PINK

The coral in the center is not dead or bleached; it actually is a brilliant light teal / blue color that is very beautiful but sadly the pic does not do it justice.
Overview:
55 total gallons of water: 40 main, 15 sump (approx - maybe just a bit less)
80 (??) lbs live rock
80 (??) lbs live sand
shallow - medium sandbed... depending on where you measure between 0.5" all the way up to 4"... average is 2"
Light:
2x175w 10k mh + 2x95w vho actinic
Circulation:
approx. 2000gph = 50x turnover
4x maxijet 1200 in main taink
800gph on a scwd for the sump return
I have particles constantly suspended... still can't figure out if they are sand particles or microbubbles... don't think they're microbubbles but I have no clue... don't seem to hurt anything!
Sump:
cs6-1 skimmer
1/10hp pch chiller
diy kalk drip 24/7
phoszorb
chemzorb (aka carbon)
sponge prior to return is the only
mechanical filtration
Water Quality:
80-82F
1.025 SG
0 trates
8dkh
400ca
(dkh and ca may have to stabalize again since I JUST started dripping kalk)
The residents:
Primarily an sps tank... many acros (I am the worst at IDing)
3 clams (1 derasa, 2 croceas)
2 juvie clownfish that usually get along well but ocasionally fight
Some LPS near the bottom (ginopora, torch, hammer)
Ricordia (ricordea?)
1 LMB
1 watchman golby paired with a pistol shrimp (cool combo!!)
too many hermits to count
too many snails to count
3 shrimp (the paired pistol, a pepermint, and a fire shrimp)
Losses 
Lost my first fish ever, a
scooter blenny. my fault but the lfs had something to do with it, knowingly selling me this fish when they knew my tank had just cycled and probably didnt have any 'scooter food' in it (pods, etc)
Had to frag some kind of deepwater acro when it lost color and tissue 1 week after purchasing it in pretty marginal shape. 4 of the 1/2" surviving frags are doing well, but 1 was lost.
Lost 2 very small frags (1/4") when I stupidly balanced them on the rocks... well with my urchin, plus snails, etc... they were gone by morning, never to be seen again
Lost 2 seacrop frags... ordered their 12 pack and am very impressed with it... however within 1-2 weeks 2 frags died for unknown reasons. Definately recommend seacrop however, the 10 remaining frags are doing great.
No other losses that I know of!
Future plans:
Watch the sps grow!