Simulation on Hardware doubt

I read about the Simulation on Hardware feature for cube orange, and I want to know if you could modify the simulation to just use the cube orange, no real motors. and a combination of fake and real sensors, like real gps and fake rangefinder for example, in conjunction with gazebo for virtual flight?

Yes, it is possible.

Could I accomplish this using the SIM_ parameters, or do I need to compile another firmware?

also, is there a way to simulate rtk fixed status in this setup? I tried changing parameters of gps_type and sim_gps_type but all I get is 3d fix