Both are great skimmers, but I believe that the EV does not get the respect it deserves, mostly due to those that had them and did not run them properly. The EV 240 takes a Mag 12 with a Mag 18 as an option which puts it to the absolute max, you will also have to add a ball valve to the Mag 18 as it can overdrive the Skimmer and cause problems between air and water mix. Mag 12 will drive that skimmer with no problems all day everyday with great performance. All pumps that are recommended for the EV line are what they where tested with and found to be the best performer for that particular Skimmer. You should also go to the Aqua C site and down load the manual as these do not run as other Skimmers when it comes to water height, this is where many make the mistake and then say skimmer is crap and they don't work. It is amazing when asked did you read the instructions say " No, I have used many Skimmers in the past ". Water line is at the top of the box level with riser tube or just below it. They also say to leave Gate Valve open for a day or two until you see no change in the Skimmer. This very important ( learned the hard way, as I had the drain line running into a bucket and did not follow what was written and walked into a bucket over flowing on to carpet and sump return section running dry. ) as when it starts to foam they can/will produce massive amounts. If you choose to get the 240 make sure you check that everything is there and in good condition, specially the the patented spray nozzle. No cracks or broken as it is the heart of these units and make sure it has the Gasket for between the Cup and riser. The other thing to know is that these Skimmers when rated where/are rated for well/fully stocked Aquarium sizes, another reason many thought these did not work, because they purchased to large and would skim like crazy and then nothing.
Anyhow, two great skimmers have been around for a long time but for 200 and say another 100 to 150 for pump IMO would jump at the EV 240 as I believe for a Life Reef you would be looking at 600 plus and most likely waiting time.
Keep us updated.