Well thought out indeed!
Regarding the options for the governence I am in favor of a Hybrid model where the Community acts as one of the reviewers in your model.
Also it would be wise to have subcommittee members 1-2 that can act as replacement. If for some reason a few member suddenly drop out or are not able to vote we could lose the ability to function for a while.
Something that is missing from my point of view is a rule that forbids Rally Staff Member engaging directly for example by voting with Tokens. In the end we share a common goal but I believe the DAO should act as independableas possible.
This could be a little bit controversial but I am also in favor of stopping the funding for a project that already got a grant (5/7 reviewers approved). So that we have some kind of safety mechanism to stop montly payments if we need it.