It will work. I have an a500 which is a500+ mobo inside. Of course when i bought it it has 1.3 kick and 512k ram only. (So if commodore could do you can too.)
I added +512 ram, so with trapdoor expansion i had 1,5MB chip. I added a kickstar switcher also. I think you should go for it too.
The only problem was some games (1 or 2) and some demos crashed because i had more than 1Mb ram. (or they searching for shadow/slow fast ram ram but can't find it of course)