While I won't overly debate your statements, because they are mostly accurate, you're speaking for Northern areas only. What applies to you doesn't always apply to others. For example, our vapor barrier goes on the outside because we're a warmer climate. Vapor barrier should go to the side that is warmer and incurs more moisture. In the north, that would be inside of the insulation. In the south, that's outside of the insulation against the metal.
And to add, going with Foam and Batts is not the cheap way out. In fact, foam + batts has a higher R-Value than foam alone. If the closed cell foam is properly applied, it creates the air/water barrier as you've noted. But then the air between the foam and batts allows the batts to truly do their work, and you get a higher R-value. I had 1" closed cell in my 6" thick walls. Then came in with R-19 batts. My 30x40x14 was kept cool in the summer by a single window unit AC, and above 50° in the winter from one safety heater, and an occasional hanging shop heater to heat it up in a hurry.
By spending for more foam, it would have cost more, and only gained me about another R-5, for a total of R-10 in the walls. My way I got an R-20+ easily.