Questions - Need some input

So I am trying to figure out the best way to set up the closed loop on my new tank. Here is a sketchup model of how the tank is currently drilled/plumbed.

I want to use all four 1" bulkhead as outlets for the closed loop, so I am thinking about drilling another hole as the inlet for my iwaki. Like this.

With the black circle being the new 1.5" inlet ...