"1. Tremendous three point shooters seem to grow on trees! All these mid-majors seem to have three! Why can't we get a couple of those?"
I'm sure we could get a couple. The question is; do you want to put all of your eggs into the three point basket? Most of the mid-major three point specialists are just that, specialists. They are not complete players and most are not great athletes. These mid-major schools can't always get complete players or great athletes so they turn to the great equalizer in college bball, the three point shot. If a team has good shooters that get hot, they can beat any team in the country. That, in my opinion, is why they should move the three point line back.
That said, I still wouldn't want to trade one of our starters for some three point specialist. I wouldn't want to tie our fate to such a low percentage shot. Even great shooters go cold. Look at Duke against Belmont. They can't guard anyone that is remotely athletic and when they don't hit the outside shot they are very vulnerable.