I'm interested in this. I don't want to use copper and I'd like to use the same 20G for QTing both fish and coral - but will do 1 at a time.
Melevs Reef uses safety stop - like 2 baths for fish with 1 being Methylene Blue (the other maybe Malacite Green) - I am definitely going to use Methylene Blue - then I will need something for parasites but I may wait till the fish settles in for a couple of weeks. I will probably drop the salinity or do tank transfer method in the middle.
With corals I am going to dip them when they come in (probably Revive or Iodine) and I will observe them. American Reef recently did an amazing interview with Top Shelf Aquatics on dipping, cutting the plugs off and gluing to ensure no pests - it is well worth a look.
So for me I think how you are thinking is smart assuming you are going to dip first and then observe. I also think many species of fish will like a bit of live rock with some pods to pick on etc. I have some bio balls so where I have fish that don't use pods (for example ich prone tangs) I will likely use a couple of bio balls, use methylene blue whilst drip acclimating, and then do like a tank transfer method with a 5 gallon bucket or maybe just a 2nd hand tank or something and I will use 'recycled' bio balls from my sump each time. I want something on the way in and then one thing that deals with ich etc. and another for parasites. Austin's MACNA presentation a few years ago (on BRS) is amazing BTW.
With corals I think the dipping, cleaning, re-plugging and glueing on introduction would all be the same but with fish I think some species may require some alteration / customisation so I would research and Humblefish and others have some great posts here on quarantine.
Mostly from what I read here others are going to say that you really have to have a thorough QT method and whilst I think just 'observation' will help it's not gonna stop an issue and you are going to be dealing with issues in your QT you could have prevented? Methylene blue (from what I've read) is completely safe, helps with acclimation and is gonna drastically reduce issues. From there I need to read more but if you want something simple that is probably going to prevent the vast majority of fish issues I would just go with safety stop on the way in and then observe in your QT.
Here is the American Reef on keeping coral pests out

Hope it helps and I look forward to any criticisms / advice that is posted in this thread (and directions to older posts that more thoroughly explore this).