We debated this at length and you have covered most of the points, except the pros of the snap swivel. One knot or three, it results in the same reduction is strength, that is not cumulative, assuming all the knots are tied correctly as shown in the instructions. The palomar is an easy knot to tie. Those more experienced than me at this believe the swivel makes for much more effective attraction of the fish when using improvised lures, especially, as well as bait. In the end, that and marketing won out as preferring having at least one snap swivel.