Are there any tradeoffs missing?
These sound like massive changes to me, I can't imagine that those few minor tradeoffs would be the only consequences??
Maybe. But, for example, pubkeys in the bitcoin curve are max 34 bytes. People use large fake pubkeys as vectors for abuse. Whether we should clean that up or not, or if there are trade-offs, is a good question. Personally the OP_RETURN size is the thing that I think is too large. Both Satoshi and Nick Szabo have warned about it, so maybe data reduction is inevitable long-term. If that is the case, maybe it's better to add data reduction to the next fork, if it can get consensus.