I had a 1500. While I liked it, I didn't like being married to a PC. I still fail to understand why FLEX doesn't have a similar version and price point.
AM isn't important. I also don't require expanded transmit, but it's always nice. The transverter mode does allow transmit to 30 MHz, so that's really all I need. If I understand the manual. I can use the CAT to upload various settings and audio tweaks for use in the standalone mode. Without the CAT programming, the extra goodness isn't available from radio menu.
I have read anecdotal snippets that AM is indeed very nice. Subsequent FW and HW updates may have been added since you last owned.
The amount of praise this rig gets, is far above the negative. The software capabilities are far above any experiences I've had with FLEX, my old ANON and various SDR receivers. Without that experience, this unit would probably blow my mind.