Why you are mostly wrong.
1. You can stay with the same weight but go with a heavier profile which in a shorter barrel will be stiffer and thus more accurate. A 46" long pencil barrel is going to weigh a ton and be wippy as hell. Weight is not what you should be looking for in a barrel.
2. Not really an issue for the .223 the OP is asking about. But referencing my reply to #1, you can have the mass in a shorter barrel and still have better accuracy.
4. Barrel OAL has zip to do with the ability to shorten and rechamber a barrel. The length of the shank is the important factor here.
BTW Doesn't matter how thick your barrel is. The longer it is, the more it will vibrate. You'd be better off with something shorter. Take a look at the benchrest rifles. Do you see any hugely long barrels? No because those boys are interested in accuracy only and long barrels don't help with that.
Barrel length surely DOES have "zip" to do with rechambering. I can cut my 28" 1.25" OD Straight Blank Barrel back twice and still be longer than 20". I don't think I would try and shoot it out to 1000yds in competition though (although lots do), even cutting my 28" barrel back to 24.5" I lost quite a bit of velocity and my accuracy node was at a much lower velocity than I would have liked.
Accuracy node at 28" was 2920fps
Accuracy node at 24.5" was 2760fps
The barrel one chooses will be dependent on the shooters use for it.
If one is shooting short range benchrest (100-300yds), then a short fat barrel is what is needed. If one is shooting long range benchrest (600-1000 yds) then generally a long fat barrel will be employed depending on the class they are shooting in.
If one is shooting F-Class (as I do) one will choose a barrel that will help keep the rifle into the weight restriction for his/her given class. I prefer a straight blank 1.25" OD barrel. I have had very good luck with both of the straight barrels I have shot.
If one decides that he just looooooves the look of a certain contour, and he isn't going to be competing and just wants his rifle to look damn cool (or even Tacticool) then he will choose the contour that makes the wood in his pants rise.
It's all relative to the shooters needs.
As a matter of fact, I just ordered a 17 Contour 7mm barrel that will finish at 30" so I can take advantage of the extra velocity to launch 180gr Berger VLD's (hopefully with 1/2min accuracy or better) out to 900m. Even after I ruin the throat and rechamber the barrel, I will be sitting around the 27.5" mark.