Good post OP! This is something along what I think Xoo, myself, and a few others in that thread were getting at. Swapping materia would be a cool alternative if they revamp the materia system, like you suggested. I kinda like the names by the way...
Don't let the Anti-gearswappers get to you. For the most part they will hate any alternative suggested that doesn't completely prevent everyone from swapping stats during battle. They don't need a reason.. haters gonna hate. Immersion? Blinking? Elitism?.. whatever..