In my opinion, before you worry about breeding anything you should try to fix the stock of your current tanks. You said you were getting a 125 and you also just mentioned you were about to setup another 38 gallon. If that's the case then i would spread the fish you have out amongst these new tanks and probably not worry about getting any new fish...at least not until you see how things go. Here's how I would stock the 4 tanks you said you will have (125, 55, 38, 38). One thing...am I correct in thinking that a 38 gallon is 36" x 12" x 18"?
125 Gallon
2 convicts
4 parrots
1 Dempsey
1Green Terror
1 Silver dollar (I'd add at least 3 more...a small school of silver dollars will be nice as dithers)
1 Pleco
55 Gallon
2 Mbunas
4 Red Zebras
1 Kenyi
2 Electric Yellow
1 Johanni
Personally I think you should trade in the Johanni and Kenyi and add several more electric yellows.
38 Gallon
2 Peacocks (you could probably add a couple more peacocks here)
4 Bamboo Shrimp
38 Gallon
2 or 3 kribs (if the 2 you have in the other 38 gallon are a pair then I'd just get rid of the other krib...unless you want to get another so you can have 2 pairs)
I think you could add a pair of dwarf south american cichlids to this tank. maybe a pair of keyholes, rams, appistos or festivums.
Fish you need to get rid of:
4 Venustus (these don't belong in the 125 with American cichlids and they'll grow far too large for the 55 so unless you're going to be getting another 100+ gallon tank soon these guys need to go)
1 Silver Arrowana (these guys grow to
4 feet in length and even the 125 will be far too small for one of these to be kept in...silver arrowanas shouldn't be available to the general public in my opinion because there are very few, if any hobbyists that can properly provide for them)
1 Pleco (I'm assuming this is a common pleco...these will grow to at least 12-18" and will outgrow a 38 and 55 gallon tank. I'd move the 1 to the 125 gallon and trade the other in and try to get a few bristlenose plecos)
Now, all the fish you have are with good company and are spread out enough so that it'll be easier to maintain your water quality. All the fish you don't have room for will be gone and you can add a few fish here and there such as the pair of dwarf SA cichlids I recommended for your other 38 gallon. This also gives you the option of breeding a couple different types of cichlids and you'll also most likely find that some of the african cichlids in the 55 gallon will breed as well.
