http://www.purplepawn.com/2012/02/pitching-a-game-to-a-potential-licensee/
A purple pawn article that's just been put up featuring Ron Weingartner, the co-author of the "Toy and game inventors handbook" - lovely advice in here from a genuine industry pro.
I must say that BGDF's Own(tm) jeffinberlin did his own series about pitching to publishers that was very well recieved as well. These two resources will aid anyone looking to put their game in a publishers hands.
I do see what you are saying Darlius, especially in your 2nd point, I could see how that could work against you- at the same time I know that should I submit my game AtomPunk to a publisher, I will probably contact at least 3 - Emmanuel Aquin from DDay Dice for example approached (and/or was approached by) about 10 publishers all told.
so I think it does make sense to spread your eggs around somewhat - becuase I also know quite a lot of designers that are in the loop of "Waiting to hear back from the designers about the game I submitted a long time ago... :( ", but as said, i can see (especially as it is so tight nit) how it could work against you.
For the first point mind, I think the term "highly finished 3-D form" can be taken liberally here, the most important thing is the second part “looks-like, works-like, plays-like” - remember this is for the beenfit of "Toys and Games" not just boardgames, and as such the hopeful recipiants of your game need to have in their hands a physical object (all be it drawn by an accurate hand) that Looks like what it might look like, that plays like what it might play like, and what works like what it might work like. In boardgame terms surely this would be a "prototype" ? In which case, it need not be super-final (as we know publishers can add/change artwork and do the same with theme), just a correct representation of what it "looks like, plays like, works like"