If the encrypted traffic and all other connections will be traversing the T1 and therefore limited to 1.5 Mbps, you'll have no performance problems using a 515E in this type of configuration with only 50 users and no VAC. You'll be bandwidth bound before the performance of the firewall becomes an issue.
Don't forget about the impact of a DMZ though. If you have a server out there with a lot of traffic, especially backups/file copies, it can create significant impact on the firewall as the interfaces are 100Mbps.