Hi Kevin,
Welcome to the forum!
Regarding the dummy heads, for absolute performance, you can get some small improvements.
You'll find that moving the tape through the machine and across the playback heads with the least amount of friction, at a constant speed/tension and having the shortest distance between the head and the nearest supports is what it's all about as far as the tape transport goes.
Dummy heads are designed to be long lasting and support the tape with the least amount of friction. The erase/record and extra playback heads are designed to do their individual jobs all of which requires a larger contact patch with the tape and are generally make with a softer material.
The obvious drawback to using dummy heads is if you should ever decide to record or playback 1/4 track tapes (most of the tapes you see sold on auction sites are 1/4 track).
I have the Flux ER head installed on mine but I have a collection of all kinds of other tapes that I listen to so I've kept the other heads in place.
If you should decide to do this, I suggest that you have your heads and guides serviced (maybe lapped) at the same time as when you have the Flux head installed. If Greg can't do that for you, John at JFR can do the whole thing for you. They're buddies so either way is good for Greg.
A very worthwhile upgrade to these machines is the Bottlehead tape path upgrade. When I installed it on my deck, I was shocked at the improvement in the high frequencies. If you're taking your machine to a tech, that would be the time to have that installed (pretty simple).
Regarding a switch from the heads, I don't find the idea very practical and could degrade the sound. The reasons I don't feel that it's useful is I don't trust the built in meters for calibration and once you've heard the huge difference in sound using any of the outboard electronics available today, you'll never go back (night and day).
One alternative is to find a spare headblock and leave it stock and have "the works" done to the other. That way you can have your cake,..
If you're a beginner, it would be a good idea to check out the "Beginners Guide" which is located in a sticky on top of the General Forum. It will give you a basic understanding of tape and tape machines and is a good place to start.
There's also a gazillion posts regarding RS1500 machines if you use the search button.
http://jrfmagnetics.com/http://www.bottlehead.com/Hope that helps and enjoy the journey!