Do they sell the chaeto or will they give you some? My LFS
gave me a small clump to try out and see how it works in my tank. It grew a lot and I had to keep throwing it out to export the nutrients. I really can't tell from the pics how much open space you have, but my suggestion is (assuming you have a light on there, mine is just a flourescent that I turn on at night and off during the day) is find an open spot and try it out. I'd rather use a macro-algae then some type of chemical or bead.
PS: have you posted any closeups of your tank in any other posts? would like to see it, very nice tank!