If your going to 1/2 a** a Herbie overflow then I wouldn’t bother. A lot of people like to run the water level high in the DT. The tank not overflowing by running this way depends on how high the DT is, how much water is in the return chamber of the sump, and how big your ATO is. My ATO is almost 10 gallons by it self granted it will shut off and not empty the tank out but if the shut should fail I could potentially get all that water. Some people have there RO/DI topping off their ATO tank. I would not let the water drop very far over the overflow box because you can end up with a water fall sound. I alao would not run vertical pipe off the overflow like that because it’s going to be harder to get the air out of the pipe when priming the system. In general you don’t want a valve on the emergency pipe unless it’s just there to take the pipe apart. Another thing to note is if your pump runs dry for any real length of time you could burn it out.