Paracyps like to hug the rocks, but do need a long tank to minimize aggression. With four feet of running space and plenty of rocks for territory, I think it would work. I suggest trying to get tank-raised fish, as wild caught may not adapt as well. I'd add some cave structures for the paracyps too.
Julidochromis transcriptus is pretty mild, and will stick to a rocky part of the tank. Multies can fend off the julies easily, and there's plenty of floor space for both.
but... I'd really want to get paracyps for this tank! :wink: