I suspect other tags will crop up later too and you have a tidy solution when they do...lets face it you've gone a lot further with the use of tags in notes than initially envisaged initially in a "demand driven" approach (perhaps the illusive "demand" is waiting for the import!).
Yes FTM is straightforward and somewhat singular in operation to fit with Ancestry, development constraints and a mass user base (that was being polite) whereas FH is far more mature and flexible. There are few neat tricks in FTM, that said it really isn't that bad, it presents well, is relatively simple, holds most of the data one might want and does the Ancestry link quite painlessly.
I believe the statements you made are correct from what I've seen and I'll check out the local note citation and source notes. The only citations I can see in FTM are against INDI and FAM events. I hope I've not missed anything in my travels.
Long ago I moved my data to FTM and my FH data is now way out of date - one day I want it back there! Moving to FTM early, I have missed out on some important plugin functions (e.g. data in notes) but luckily my data is quite basic even if my use of FH queries, web creation, etc. was not.
And of course my Ancestry matching and understanding of this feature has progressed considerably...importantly I still confirm enthusiastically the great value of matching against Ancestry records (and I've not bothered matching users trees yet). After some weeks of reviewing I still have 650 people with several records each to review...it takes time but its worth it. The matches hints are surprisingly accurate and frequently deliver more information and indeed new people as well as all the citations and their images. I also get a few photos of people! What I'm saying is the export plugin is absolutely worth using.
Of course, reviewing also means updating your data and by far the best way is using Ancestry features instead of copying and pasting back to FH. Trouble is...we need the FH import. And of course the FH import will also make FH readily accessible and highly attractive to existing Ancestry users. Now where am I going with all this he asks himself
In about 3500 hints time (coincidentally about the same time as a holiday from developing export plugins) it'll be time to get back to FH. I aim to press on with matching but when I need a break I'll continue listing the translations and processing to get back to FH....just in case anyone feels like a little light coding...