I will correct a previous post... The Fire Turret is only useless compared to the Outpost in the current economic scenario, in which open squares for Depots makes the higher damage-per-square of the Outpost outweigh its slightly lower damage-over-time-per-dollar. If the economic towers are ignored, then the Fire Turret is the king of towers on most maps, closely followed by the outpost and ice turret.
I've also found that the 50% bonus is less a factor in the late game. The 3 best towers (which cover only two types of enemies) are nearly equal to an inferior tower against its favored target, and far better otherwise.
If I were to produce sqdef 1.5, some of the easiest changes I might make...
More damage or higher range for multi-target towers. At first glance it makes sense for the Split Barricade to do 1/4 the damage of the Barricade, but consider that the Split Barricade is not engaging 4 enemies at all times. Run four targets past it in a straight line and it will engage 1,2,3,2,1. If they go around a corner then it is 1,2,3,4,3,2,1. If they go around two corners then the 4-enemy stage lasts longer, but even in that case the average engagement is not even 3, so it should probably do at least 1/3 the damage of the Barricade, or have a slightly higher range so that it engages four enemies for a longer time.
Ditch the Depot and Colony, make creep rewards scale up faster instead. This removes the broken economic metagame.
Increase damage on the Quad Fortress. Right now without armories it does a competitive amount of damage, less over time than the ice and fire turrets bur more than others due to its extreme range. But when you introduce armories it becomes far less of a contender, because of the restrictions on armory coverage due to the larger size of the fortress.