How long has your tank been up and running? I ask this because there is so much you will need to test for if it is a young system. Even if it has been up for years there are certian tests you must do on a regular basis such as....
Nitrates, Nitrites, PH, Ammo, Those are just to start with for new or old set ups. If you plan on adding corals and depending what kind you plan on housing in your tank you have to test for....calcium, ALK, Phos. and such, and depending what kind of corals and how often you do your water changes you might also have to add supplement to your take for certain corals to thrive.
As for the new lights you are planning on getting you said compact florescent, correct? What kind are they? What is the wattage of the bulbs, for it makes a huge difference in what you can keep in your tank.
I have had a 12g FOWLR for almost 5 years and just decided to make it into a Reef. I had to order New lights myself since I only had stock lights that came with my hood, which were fine for just fish and LiveRock, but since I wanted to keep some shrooms and other softies and a Hammer Coral and maybe a few others I ordered a Coralife 1x96 watt Quad. If I am right It has always been said for lights you should have anywhere from 4-6 watts of light per gallon. It has been a while since I had my 55g Reef but I do not think that has changed, if it has some1 please let me know also...LOL.
I have not been on this forum long but have had Reef tanks before but it has been a while so even I have been looking info up and asking ?s. From what I have read on this forum onefish2fish and Cody are good people to listen to for they have also helped me out with my 12g even though I had a 55g years ago I could always use a refresher coure sort of speak.
If you could list what kind of lights and the wattage they will be and other equipment you will be using, such as power heads, filters and or skimmers if any, all will be able to tell you just what you could keep in your tank with the lights and things you will be using and also help with any tests you will have to do for the corals you could keep.