The ink set they sell is basically a copy of Paul Roark's system that uses the Epson driver and an ICC profile to linearize the output. It might a step up from what you'd otherwise get from the printer, but with that workflow you will not be getting the full benefit of using 6 inks to divide up the grayscale. You might also find the ICC profile will crunch up your shadows a little too aggressively. Unsurprisingly, the ICC profiles they supply are made with the QTR-Create-ICC-RGB droplet... If you have a densitometer or spectrophotometer/colorimeter you can make custom ICC profiles yourself that are specific to your printer.
The next better option will be to make your own QTR curves. You will see a greater benefit from the inkset because the lighter dilutions will be used exclusively in the highlights and lighter midtones. You will not see the dots from inks in the M and C positions, and the K will be used as the skeletal black only.
As for the paper feed: I've sent lots and lots of heavier paper through the 1430/1500 printer with only the occasional mis-feed where it will badly scuff and dent the paper. The paper can still be used for making proof prints, or trimming off the damaged area, but wrecks the paper if you intend on selling the print. It is just something to keep on eye out for, and might cause some cursing if you're running low in the box...