I'm seeing lots of talk of watts per gallon- its somewhat inaccurate. Check out this thread
watts per gallon poll
If I have a 500g tank with a coral sitting 5 inches from a 250 watt bulb and thats the only light on the tank... and I have another tank which is 30g and the same coral is sitting 5 inches from a 250 watt bulb.... how does watts per gallon matter? The intensity of the light is the same.
It's the same as the fish per gallon rule. A fish that is 3" and 2" thick is much different than a fish that is 3" and a 1/4" thick.
My tank is 12g and my light is 150w. I don't recommend that setup for anyone new in this hobby. The 70w would be a better option for a tank my size. We also cool our house to 72-73* and heat was a major issue.... actually it was still winter when I had the heat issue and the house was about 65* then.
Jay- you should be ok with a 150w on a 29g tank. You just may need a small fan blowing across the tank though. I would just mount the lights so they are adjustable and you can find the right height. My lights sit on legs and are only a few inches from the water which causes much more heat.