One thing I would say is that all the points you made "on the surface" are valid and they would explain why he wouldn't have been hired right away. He would have to get through a thorough vetting process before HCMM would want to hire him and RG would sign off on it. So I think that the one explains the other. This wasn't a situation of "What? Venables wants the job and he'll take a pay cut to get it? Send him the damn contract before he changes his mind."
I also think we disparage Kentucky's program too much. Yes, it's traditionally lower tier in the SEC and while we can look back over the past 25 years and see a lot of bowl seasons, we don't really see anything beyond what looks like a ceiling of 6-8 wins. With that, I think there's some credit Eliot has earned by coming into a UK program that was in an especially bad place (2-win season the year before they arrived which was repeated his 1st year). Taking it from that to 5 wins, 5 wins and then 7 wins with a 4-4 conference record points to a good coaching job happening in Lexington.
Beyond that, I don't think I can sell you other than to say we've got to give him a chance. I'm not totally sold on this hire. I understand it and can get behind it, but the only thing that will sell me or turn me against Eliot is results. I think the vast majority of us are reasonable and very few of us are silly enough to think we *know* whether this will end up being a good hire or not. So I'd say that the difference of opinion is on the degree of skepticism & trust each of us has as we root for the best and wait to see how how it goes. As I see it, there's nothing that anyone has a reason to get too passionate about at this point - one way or the other.