Is there any point in taking the health cost for psi abilities feat with a tranq build though?
Assuming you're on Hard+ and wearing a Regen Vest, Hemopsychosis is probably as valuable for Tranquility as Psychosis. If you've got a good vest and Fast Metabolism, you can heal up from 70% to 100% - the trick during combat is finding a way to get your health right to 70%, and that's where Hemopsychosis comes into play. As long as you can LOS or hide behind a forcefield, you can pick a low-cost ability, drop your health right to 69-70%, and then regen vest up. It allows you to recover your Tranq bonus mid-combat when your hypos are on cooldown.
EDIT: About your build: looks fine. Mantra is surprisingly useless, though. You'd think +5 psi regen would be awesome, but by the time you get to level 30 you'll usually be sitting on 60-70% psi cost reduction. It'll actually be a chore to use up all your psi to the point you even want to pop a psi booster.