Correct!!
Just spoke to Dean at Hitzer and to be sure, both 254/354 radiant models do not have an internal damper like I had assumed. So my assumption was incorrect. He did tell me that if a person wanted to, they could put the damper through the side of the stove, but he said it's just as easy or even more easy to simply put the damper in the pipe. I agree, if a radiant model would be your choice. This would make it similar to a Lopi Endeavor/Liberty wood stove by-pass. Not the same, but similar. It would also make it similar to the DS Comfortmax. Again, similar, yet different.
I can tell you this...
My 354 is run low a lot. At 300F or below there is still good convection coming out of the top of the unit, but not as much as one thinks. It cannot be felt near the floor standing 3 ft away because most of it is rising because it is moving so slow. However, turn the blower on low and 3 ft in front of the stove it will warm your feet.
Also, it doesn't put off much radiant heat below 275F. It is not until I run it around 325F that I can feel the radiance coming through the back of my easy chair 8ft away. Still at that temp you can just start to feel convective heat coming from the convection chamber. Obviously, the hotter the stove runs, the more of each type of heat you will feel. I have never had my stove set to run higher than 350F in my ranch 1350 Sq ft. Even though I think the 254 would fit this home better, I am afraid a radiant model would still cook us out of the house.
I do not use the blower at all. I have turned it on in below freezing weather just to see if it makes a difference. The obvious answer is; yes. I'd rather have it and not need it, than need it and not have it.
Side note, unless you'd run it 375F+ do not be mislead thinking you could cook off of it in a pinch. At 375F you are just barely able to start cooking off it I would think, and 400F+ would be better. Even running my 354 at 350F it will not even come close to boiling water. All the heat is coming off the sides, the front and through the convection chamber. If cooking is a must, you want the radiant.
Would probably be best if we could see a picture of where the stove will go, but with that I'm going to assume that with the fan turned off you'll still get plenty of radiant heat from the stove. After all, cold air pushes hot air upward, so any cool air falling down the stairs is going to have a pulling effect of warmer air into the upstairs, and there will likely be plenty of pull. I hope your basement is insulated, otherwise you're wasting your time. All that concrete will absorb most of your heat.
If that stove must be placed under or to the side and facing away, then I would still want that blower model moving the heat for me. Too much radiance near the stairwell could be a fire hazard waiting to happen over the long haul.