The essay section was only in place for about seven or eight years. So, eliminating the essay puts the test back where it was for many years, until about 2005.
The problem with the essay section, according to one of my kids who took it, was that the essay grading was highly subjective, and many graders gave points for volume rather than quality.
Eliminating the penalty and dumbing down the math questions is another matter.
I have found it is really dependent on the student and what they believe they want to do as to if the SAT or ACT is a better test for them.
The SAT is more of a general business, non-technical student in school and the ACT is more geared to those wanting to head to college in technical subjects.
My son took the SAT, he walked out saying he sucked at it, and only scored around 1890 but he took the ACT, walked out, said he aced it and scored a 31 so take both and see how you do.
The HS generally provide free prep courses, the water polo team did a fund raiser for 10.00 you got the prep course and test.