Aha! Understand the desire to eliminate chips and get more speed. However, several things to consider. If you have been running solvent ink in your 1204, then you will need to change out ink lines, dampers, maintenance station, and thoroughly flush the print head. So, it's possible to convert it to sublimation.
Converting it from a 1204 to an RJ900 is a different story. Even though they are very much the same, I'm sure there are electronic difference and some physical differences. The electronic part will be the big thing, as the firmware determines how the machine operates and is an integral part of the design. Think of it like trying to install firmware from a Dell computer on an HP computer. With the printer, the firmware change probably won't work, as the software to upgrade the firmware will most certainly reject the RJ900 firmware as being incorrect.
If you do convert it to sublimation, the way to gain speed is going to be in your profile settings.