With a ten gallon, you can keep a careful and thought-out mix of soft, SPS, and LPS corals, if you have a strong light... the 96 watt should do the trick for the majority of corals, even some SPS.
Your 40 watt you'll be able to keep shrooms, zoos, star polyps, no problemo.
I have the above mentioned 96 watt light and it was some of the best money I ever spent. I keep clams and even an SPS coral frag, which is thriving (and growing incredibly).
Thought-out means researched coral. For instance, you probably don't want to keep a frogspawn unless it's clear on the other side of the tank and there's nothing in 6 or 7 inches due to the sweeper tentacles. I keep an open brain coral, which isn't that abrasive compared to its LPS fellows. Truly an awesome coral, one of my favorites... it looks like a neon green inflated jumping arena little kids get on when the current hits it.
Read up on chemical warfare among corals. Sometimes carbon helps to alleviate the unseen chemical war.
The key to nano reefs are planning and reading on corals which will live and thrive in your smaller system. I no longer buy corals but trade and frag in my reef club.
Also, no anemone. Anemones aren't good for ten gallons anyway, but in small volumes of water they move about and sting and even release agents that can harm or kill your corals fast. I've seen this happen to a fellow club member who almost lost a green star polyps colony due to a carpet anemone in a 29 gallon tank.
