I quite like those 8 Rules, particularly No.4 which is an excellent guide.
If I were to sum up, then your style of team selection seems like a post-season Award Ceremony where the emphasis is on excellence and accrued merit.
On the other hand Monk seems to act like a pre-match or pre-series selector. And as such will choose mostly from a pool of tried and tested players, but has no problem trialing an X-factor player as real selectors sometimes do. Frank Tyson circa the 1954 Ashes tour springs to mind.
I am similar to Monk in that I am selecting my team prior to an anticipated Test match series. The series is always set in contemporary time with modern equipment, with each Test match being played in a different country so the conditions are varied. The opposition is of a similar standard to Clive Lloyd's West Indians circa early 80s, Ian Chappell's Aussie side circa mid-70s, or Bradman's 'Invincibles'.
The biggest 'problem' for me in selecting an ATG team is to estimate how far back in time I can go with my selections. I assume post-WWI, pre-WWII players to have the technique to cope with batting against Imran and Wasim (for example), or bowling against Sachin Tendulkar (for example), but I'm not sure. I don't think that pre-WWI players can be selected at all because they they would be technically deficient against modern players. However, this does not mean that are they not great champions, or shouldn't be held in high esteem. But of course, I am happy to be wrong in that asssumption.