A simple question that can have lots of different questions. In any event, I think the primary factors are:
1) How much water do you plan to run throught the sump? If the water is moving to fast, you may end up with bubbles from skimmers, turbulence, etc. Too fast of a flow may also limit the use of teh sump as a refugium.
2) How much water will drain into the sump if the power shuts down? Obviously, if it isn't big enough, you will end up with water on the floor.
3) What do you plan to put into the sump? Live rock? Heaters? Skimmers? A refugium?