These look like reasonable changes to me. [snip]
Optional 3) Term display and edit is turned off in admin_overview for folksonomy vocabs. This is optional and is waiting for a better way of displaying and editing the expected very large numbers of terms in a folksonomy vocabulary.
see the theme configuration where we have toggle switches for this sort of thing.
5) A hook in the save() code populates term_relation to provide "tags like this one" cluster analysis and navigation.
not sure whats being accomplished here. in any case, we already have hook_taxonomy() which should do what you need.
6) A hook in the _form_all() code makes it easy to extend the $help description with suggested terms from Most used terms, My terms, Related terms, Synonyms and anything else we think of later.
again, not sure whats meant here. but its Optional so lets omit it for the moment.
8) Work is started on "nice" URLs for taxonomy category pages. eg /taxonomy/fterm/horse+riding //"horse riding" from any vocabulary /taxonomy/vterm/keywords/horse+riding //"horse riding" from the "keywords" vocabulary /taxonomy/vterm/keywords //All nodes with a term from the "keywords" vocabulary
this is much needed. perhaps the naming scheme from commentrss.module will be sueful. see its readme file.