I read again you priority list, but I am not sure I totally agree with it. Let me explain...
I agree that getting the connectivity right is the first important thing. It is very nice when you can already perform a "Get Directions" on the life map and see that all roads between those 2 points are correctly connected.
However, I do not agree with leaving naming for last. For example, to uniquely identify an address, in Australia one needs number, street, suburb and state. Currently some of us have being coding the "city" field with a suburbs-state pair. Once Waze guys implement the state field, they will be able to split our existing suburbs-state pairs in their database for us (i.e. viewtopic.php?f=8&t=1624
Therefore, having a few early streets with the "city" label, lets the Waze client new road paving functionality automatically label the "city" field correctly in 95% of brand new streets. That seems to save a lot of manual entry work.