I think Chemi-Pure Elite has phosban (more or less) in it, thus its the Elite.

Personally I run Chemi Pure Elite and Purigen. My nano has only been up a little while with it, but I've been very pleased so far. Purigen is quite amazing stuff, really, and if you get it online, you can get A LOT of it for cheap. I can get enough to do probably 300g of tanks for $20 from AquaCave. You do have to buy your own media bags for it, but those are like $2 a piece or you can just use nylon stockings I believe.

Really and truly, the best thing to do for algae is get rid of the source of nutrients. In my case, I have some algae and a little bit of cyano and I'm thinking it actually may be my rock as it is "used" rock that I know the guy just pulled the plug on his tank and let everything sit for like 4 months... not so good.
But anyway, I like Purigen and Chemi-Pure Elite together.
You could also look at the Bulk Reef Supply media reactor. Its like $50, is powered by an MJ 1200, and has two separate reactors (more or less) built into it. They sell a couple of varieties of GFO and carbon that you can use in them, too.
Brandon