Hay Pauly... I'm in a similar situation but I've been cycling for almost 5 weeks now.
I visited my LFS to talk about options and we quickly ruled out convict cichlids. People say they are easy to breed but according to my LFS, they breed too well... he said its the most common cichlid people bring back in (not because the don't like them, just because they have successfully breed them and have too much).
After some significant research, I am down to either Rainbow or Keyhole cichlids. Both look good and are small compared to other cichids. Both are also easy breeders but my LFS will take either of these if I have an overflow.
The other good thing about these species is they are supposed to do well in community tanks. My LFS had the opinion that keyhole cichlids are less aggressive than the rainbow.
And finally, if you want to breed cichlids, my LFS has recommended that once a mating pair is evident, you should separate that pair from all other cichlids. They are peaceful, but once the mating process starts and eggs and little babies are around, they can be very aggressive.
Good luck.