The problem is that without advantages the arguments would go on for hours. With any points based system there will always be an incentive to stall once ahead on points, indeed it is a very effective strategy even at the highest level.
I agree with many of the points raised but whatever you do people will always take of advantage of the rules which leads to stalling.
The best way is submission only, it keeps the sport real, the less rules the better.
Submission only, 10 minute fights, if no submission then it goes to coin toss.
That would give a strong incentive to win a fight.