Twist rate depends on projectile weight you plan on feeding it. If you're not sure, go with 1:8 twist. There's enough documentation available (google search) to give you the full run-down on the differences. Basically, heavier projectiles work better in tighter twist. Lighter ones tend to break up if you twist them faster (so 55 grain in a 1:7 twist will be bad). I believe the 1:8 will give you the best of both worlds.
As for chrome lined or not, I believe it's more personal preference. I'd opt for stainless if I had the choice.