D.S.
Well at 18 months your son can (and should) still be rear facing, to keep him as safe as possible.
When he reaches the rear facing weight limit of his BLVD (either 33 or 35lbs depending on when the seat was made) then he should be turned around. Depending on how tall he is, he may be able to use the BLVD till he is 4 or 5. (Kids outgrow the Britax convertible seats at all different ages, most don't actually hit the weight limit for the seat, they just get too tall.) Your son will outgrow the seat when the tops of his ears are at the top of the shell of the car seat, and when the straps are no longer at his shoulders when they are at the highest setting.
When he is forward facing full time (and really at 18 months and 26lbs I wouldn't be comfortable with a kiddo forward facing just yet) then you could look at the Britax Frontier, it is a forward facing only seat that harnesses to 80lbs and then converts to a really awesome booster. The Frontier is for ages 2 and up though (Britax is really big on the extended rear facing too, that's why they've bumped up the rear facing weight limits on their newer seats) so you've still got some time before he will be able to use that seat. The Frontier also good for 9 years of use from the date of manufacture, so it could also be passed down to future kiddos if you wanted. :-)
Another option when he is forward facing would also be the Graco Nautilus, the harness goes up to 65lbs, then converts to a high back booster, and then it can also become a backless booster later on as well!
Hope this helps a bit!
If you have ANY other questions about anything car seat related, please don't hesitate to ask.