Will a Bravo 1 x drive bolt right up to a bravo 1 transom assembly? Looking to upgrade to something stronger then my Bravo 1 which did not fail but was broke in a water collision.

Yes no issues it's plug and play. Only two things to find out. How old is you gimbal bearing. If it has red dot it's the new one and you are ok. If not install the new as the x drive needs this. Also if it's an older x drive with large u joints you should put in drive limiters but not needed to operate. If it has the newer small u joints you're good.

Where is the red dot located? I have the option to buy the newer style or the older, what, if any, is the advantage of the newer style?

All X drives require Red dot or new non-greaseable bearing. If you have the red dot you can see it when you remove the outdrive and look at the bearing.
This is needed for the larger U joint.
The spacers go in the end of the trim cylinders (less than $10) and it limits outdrive in the up position so the Ujoints do not bind. You also might need to look at the drive bellows retainer ring, the sevice bulletin says to replace that also for the larger Ujoint.

Do a search, I posted the service bulletin within the last 6 months. I can send you the PDF if you like.