Re: One question
That's pretty much it. The only thing that they are doing that couldn't be done by a bloke in a shed at the bottom of his garden is the Dispute Resolution stuff, however to be fair I suspect that most of these issues arise because Nominet essentially appears to have a first registered first served policy for registrations, and also has no problems with mass registrations by domain squatters, probably because they pay them lots.
Changing the rules to make it clear that domain squatters etc might as well just pack up and go home because you won't support their business would likely remove most of the need for arbitration.