Two 1/2" lines are not equal to one 1" line in terms of flow. It is cross-sectional area rather than diameter so you would need roughly 4 of them to equal one 1" line just on an equivalent fluid velocity basis. Even then the frictional loss is greater with 1/2" at the same fluid velocity so it is more like five 1/2" lines being equal to a 1". I think you are going to be very restricted with only two 1/2" ports - probably to something like 300-400 gph total depending on the pump you select . I would definitely swage down at the bulkhead and might consider going over the top.