If you want an improvement over that sub, yes. The Outlaw Audio LFM-1 EX at $549 shipped will be a good step up from the Paradigm you have given the size of that room. It's the difference of a 10", 250 watt RMS 56lb sub vs a 12" 350 watt RMS 80lb sub. The bigger driver, more powerful amp, and bigger enclosure means a lot more output.
HSU rates their similarly spec'd VTF-1
(another 10", 250watt RMS, similar size) for mid-sized rooms up to 3,000 cubic feet (click on the loudness icon on that page), their larger, VTF-3 MK4 (comparable to the Outlaw EX) for huge rooms up to 6,000 cubic feet. This is a good guide.
I would try out the Paradigm right away (the EX sale ends 1/30). If you want more bass, then it's upgrade time
And the EX is currently the best deal on a high output, 12" ported sub for $550 or less. And you might consider using the EX in your HT setup, and adding in the Paradigm near the dance floor to give a little more oomph in that area of the room.
Your questions are answered: Speaker FAQ
Living room HT:
Energy RC-50, Ascend Sierra Horizon w/RAAL, Ascend Sierra 1, PSB Imagine XA | PSA V1500 and CHT SS 18.1 | Denon X4200W | modified Dayton SA1000
CBM-170 SE | SVS SB-1000 | Audio-GD NFB-11 | Parasound Zamp | JBL LSR305
Headphone & Portable
AKG K7XX | NAD HP50 | AKG K550 | Soundmagic E50 & E80 | DX50 | E12 | X1