I'll try to address some of your questions. Now the ones related to the flight model are subjective as I didn't really check the numbers with the rw docs. But, I think Paul did and that's the guy who's done the mentioned v one mod, giving you v-speeds, callouts and things.

First of all, I'd stress that the fixes regarding the overpowered character of the plane are mandatory from my viewpoint. Otherwise, you receive pretty much of a rocket, which the 737 somehow is but not that much.  ;D So you are getting closer to rw values for sure when using Bud's FDE mod. I also think his thread describes that he at least roughly checked the values which arise from the edited FDE of his.

I agree with you that the Michael2 mod was great for the 727. But, in my eyes, the default 727 rendition form CS already was closer to the real plane than the default 737 is. Again, subjective impression of mine.

As for the other problems mentioned, we've created a list some time ago. It's still current.  :( http://captainsim.org/yabb2/YaBB.pl?num=1346764500/0