From my experience I would expect some algae growth. I was pulling my hair out at first, but stuck with a lot of advice we all have read in other posts "consistency and slow change is the best (but hardest) thing you can do." My advice:
-stop buying sps and lps corals that are not doing well. I can say it so bluntly because I was doing exactly what you are now. I knew I've grown them in the past and I thought the system was ok, so I hope that does not offend you.
-reduce biopellet use gradually (water changes are a good time). I pulled mine right away and I had a larger algae bloom then I probably could have avoided.
-once your levels and algae start to show control you will be ok with sps/lps. It seems you are on the right path with your parameters. I'm not usually as vocal on a problem as I am on this one. Truly biopellets are a great thing, but very risky if you are not dosing certain trace elements very closely.