watts/ gallon is a good rule of thumb for newbies, but not all that relevant. I don't see a problem with those lights on the 45 gallon- just stick to softies and the same corals you have now. I would keep the corals positioned in the same distance from the light as they are in the 29 gallon.
Upgrading would be awesome! Sorry but I don't know anything about
T5's, but I'd love to hear a podcast about them. *hint hint*
Keep us posted with the upgrade Tony.