Hi inthemix,
Is this going in your main tank? Chaetomorpha doesn't anchor so it might get annoying having it bounce around your tank all the time. Halimedia, Penicillus, Rhipocephalus, and Codium all have rootlike structures and will stay anchored in one place. I believe these algae can "go sexual" but don't produce any toxic chemicals like Caulerpa. If you need something that grows rapidly to compete with microalgae, I think Caulerpa is going to be your best bet. If you get C. prolifera or C. racemosa and keep individual "plants" small (main rhizome less than 12" or so) I doubt you will ever experience sexual reproduction. When you trim caulerpa be sure to only cut it in one place at a time. It is basically one giant cell (a siphonous algae aka a coenocyte) and it can bleed out its vacuole from too many injuries.
HTH,
Kevin