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(1) Am I correct in understanding that SACD is currently still mired in one of those stupid corporate battles over format (will they ever learn?)?

It is a format that has competition in the form of DVD-A.
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(2) Seems to be very little available that has been SACD-recorded - and seems to me that, unlike the CD, there is little or no ability to bring prior masters up to SACD by re-recording.

I believe there are nearly 500 or so releases now available. Most of these ARE reissues. Popular examples are Miles Davis "Kind of Blue" on Columbia/Sony Music label(originally recorded in 1959) and the recent Rolling Stones reissues in Hybrid Multichannel (meaning they can be played on any CD or DVD player).
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(3) And therefore, based on (1) and (2), I'm going to wait (a year? maybe 2?) for formats to be more nearly resolved, for the library to grow, and for prices to come down (cheapest unit I know of now is a Sony that is still about $900 - does anybody know differently?).

Waiting is always an option. Me, I'm an early adapter! The library is growing weekly. Do a search on the subject and you will find SACD players available for as little as $200.00. You mention you have a preference for vinyl. SACD gets really close to that sound with the quietness of a CD. You might want to go and spend some time with SACD at one of your local dealers (both in stereo and multichannel). It might make it hard for you to stay away!