I think these are all valid points, from what I know. I'd say that this would be about the same list when comparing the Rebar and Wave.There's a serious cost and weight addition for the outside accessible tools on Leatherman. And that's what it seems to come down to. If you want those outside access tools, it costs more to manufacture, and adds weight. I'm not saying one is right and one isn't. I'm actually glad Leatherman runs both lines, and gives users the option.
Heavy is good, heavy is reliable. If it doesn't work you can always hit them with it.
I always used to carry a Wave for the OHO blades, but have recently moved to carrying a Rebar with a separate knife. For me, that works much better.