that shouldn't be the problem and I hope I can explain this correctly: If you need the fine tuning of a gate valve to get it to balance out, then there's something wrong in the design IMO. What I mean by that is, if you get a change in pump performance, buildup on the overflow combs, or any number of things that could in any way affect the flow, an then the water level is thrown off balance, either overfilling the sump or the display, then you have a design issue.
If a pump is pulling from a sump and flowing into a display with an open, gravity feed back to the sump, it should never overflow the sump or overfill the tank unless it is so over-powered that the overflow can't keep up. I don't think this is the case with Nelson's system. As long as the overflow is well above the flow you are giving it, there should not be an issue if the plumbing is properly designed.
So the questions I have are how is the water getting from the tank to the sump? Through a bulkhead or a siphon overflow? Size? 300 gph is nothing even for Nelson's tank. How is the return pump mounted? Inside or outside the sump?
Nelson...can you post pics of the setup and plumbing?