You have 1mb of Chip RAM and a Fat Agnus installed? Should be no problem. And no, probably not worth the hassle unless you want to use one of those funky screen modes are play the occasional game that takes advantage of it.
I for sure has the Fat Agnus, i don't remember how much chip I have. I'll have to run sysinfo later. They're like 30 bucks on fleabay, thought it looked like a fun quick project. i know there's some expansion ram on the scsi controller.