Recaro seats are great, but rear facing is far, far safer for a one year old.
The spine of a toddler is very, very fragile. RF protects the spine better than the side impact features of any FF seat.
Here's a bunch of articles -
http://www.msnbc.msn.com/id/9916868
http://www.cpsafety.com/articles/StayRearFacing.aspx (be sure to view the video at the bottom!)
http://babyproducts.about.com/b/a/244953.htm
http://www.windsorpeak.com/dc/dcboard.php?az=show_topic&forum=13&topic_id=44503&mode=full&page=
(Pictures of the development of the spine.)
And, the American Academy of Pediatrics says -
Forward-facing seats
Once your child is at least 1 year of age and at least 20 pounds, he can ride forward-facing. However, it is best for him to ride rear-facing until he reaches the highest weight or height limit allowed by the car safety seat. There are many types of seats that can be used forward-facing including convertible seats, built in seats, combination forward-facing/booster seats, and travel vests.
http://www.aap.org/family/carseatguide.htm
The Britax Blvd does have true side impact protection wings for the head area. And, again, any RF seat is super safe. The MSN articles states that in side impacts, RF provided surprising benefits over FF. A tech can hopefully explain the dynamics of this. The TSIP of a Blvd would be icing on the cake.
Popular convertible seats that would be a better choice for a one year old -
Any 65 lb Britax - long lasting (to age 5-6 years), easy to use, nice.
Fisher Price Safe Voyage DX - bascially a stripped down Britax Marathon.
Sunshine Kids Radian - another 65 lb convertible, very high quality and well-liked.
Cosco Scenera - a very inexpensive seat at $40! Nice tall seatback, highest RF limit (35 lbs). Pretty flimsy padding, but my daughter never complained!
A huge downfall of the Recaro Young Sport is that the harness system is only good up to 40 lbs, that's insufficient to get many kids to an appropriate maturity to be trusted to sit properly in it as a booster. I LOVED the Young Sport when I saw it in a store, but my daughter was only 3.5 years old and 38 lbs. We drive a lot, she sleeps a lot, even if she'd have made it to 4 years old, that wasn't enough for us - so I sadly skipped it because she wouldn't get to 5 years old in the harness.
Recaro reportedly is coming out with a convertible in 07, so maybe get a Scenera now and look into the Recaro convertible when its out?
Hope that helps get you started!