Yes, I don't agreee that a forward assist is a must have item, particularly on a sporting rifle. Worst case scenario, you can always stick your thumb onto the bolt carrier group cutout and push the carrier forward.
In terms of being able to upgrade it, you won't ever be able to add a forward assist or dust cover short of changing the upper receiver. On the other hand, a stripped upper costs around $100.
The barrel on that rifle is actually quite nice - a 5R, 1:8 twist Melanite coated barrel that Smith makes in house - very similar to what is used in the Thompson Center products.
I'm not real familiar with the product; but assuming that it conforms to standard AR dimensions, it should be simple enough to upgrade most everything else if you decide you want to do that. Only caution is that the triggerguard is a part of the lower and cannot be replaced; but that's fairly minor.