Yeah .. You pretty much hit the nail on the head.
Except for the list of things you already pointed out ... well he's still kind of a hot mess. HOWEVER once you are free to ride you have a great project in front of you that would have some KICK ASS "after" photos.
But that neck. ****.
He needs a summer full of collection exercises. He's kind of a hodge-podge of good and "WTF" features but you do have some good core elements. He's got a nice hind end, and that going to help him support himself as the two of you build up that topline.
He has a weak loin, so definitely stay off jumping until he fills out his frame a little more.
He's a project in the making but with a ton of collection work, come back at the end of the summer with before and after pictures to get a better analysis.