While serial control of RA2 is preferred and allows for much more, it isn't the only option.
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[Link: resi.lutron.com]
It may be less expensive to purchase another keypad and install it near your equipment. Program the desired scenes or loads and run an IR cable from the MRF350 to the IR on the keypad.
Regarding a repeater, if you chose to upgrade to MSC400 for serial control, is it possible to simply relocate your main repeater to the location of the MSC400?
Don't waste your money - put the processor upgrade money towards a two way URC or Total Control System. Controlling lights without two way control seems like a waste to me. With two way control you can see levels, if the lights are on in particular room and perform a lot of powerful features. Rather than invest in a one-way system just use your phone or tablet with the Lutron app until you are ready for a two way system.