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First, the old MkIVDreadnoughts have an exposed head-like thing. Is this the actual head of the space marine (within a helmet of course)?
I think that would be stupid, because then you would have a superarmored walker, with the most obvious of weak-points.

Second, apart from weapons in the arms, some seem to bear one or even two stormbolters under the chassis. Is this common, or a rather unusual modification?

1) Thats how they count SM power armor i guess.
To the point that an open topped vehicle with power armor in it count as closed top.

2) yes they have storm bolter and or flamers.

I think the head thing is more a decoration, and possibly more of a 'this is the bit you look at when addressing the dreadnought' sort of situation, since humans are more comfortable addressing a face than a box.

The weapon under the chassis is the gun that would normally be put under the powerfist. That's just to make the MkIV look different from the regular one.

Hah just read Fallen Angels. There it states its a "sensor turret resembling a Space Marine helmet"

1) all dreads have thier "pilot" encased in the sarcophagus. So this helmet is just design.

But nice find Spender.

2) Weapon configs may change. Stormbolters are secondary weapons. Should be where they got the best firing arc.