The 4550 I have hasn't had any problem with low resolutions. But then again I have a 31K monitor, so I probably have higher dotclocks even at the same res. But Calamity claims their shouldn't be an issue and I guess there is some issues with J-pacs. Other than that I think a fanless 43/4550 is nice to have if you ever use your cab for watching/editing graphics intensive video or using Dreamcast/Naomi type emulators that will use the extra power.
I've heard some say that that the 4000HD cards will wear out faster due to heat, but you can always underclock your card if that's a concern. I just run default clock settings and it's fine. If you know for 100% sure that you will never use your cab for anything but MAME then sure the x600 is probably the way to go.