Yes, your stocking is definitely overboard. If you use the general rule of thumb of 1" of fish (adult, full grown size) per 1 gallon, you have approximately 68.5" of fish in a 29 gallon (I guesstimated the angels at 4"). That's more than twice as much fish as should be in there. I'm surprised they have room to swim, actually, since they're all already pretty big. Now, you can fudge the stocking a bit, and if you're really going to get a 120 gallon, most of them can go in there size wise. Your other, just as big, issue is compatibility. My general understanding is that african cichlids should only be kept with other african cichlids. The tiger oscars need about 50 gallons per pair, (or maybe for each one, I don't keep them, so I don't remember). I would agree that you should rehome in the very near future everything but the angels. You could maybe get away with the angels and the pictus cats, but I haven't read up on them lately so I'm not sure.
Ok, as far as levels go. Is your tank cycled? Do you know what cycling means? Have you been doing water changes? If you've been checking levels, let us know what those are/have been and we can give you more specific advice on where in the cycling process you might be.
Also, your lighting right now is at about 6 wpg (watts per gallon), which is overkill even for many plants, and completely not necessary for just fish, and could very well lead to algae problems. Out of curiosity, why do you have so much light on the tank? Also, mods, I don't know if this needs to become a new thread?