Good write up BG. My own view on spreads is quite simple, have no time for them for obvious reasons. ML is the way I've been going for years and with success. Sure lower prices, but it's all about the win not the margin.
I know what you mean. I tend only to bet on ML's if:
1) The line is really tight i.e. if the favourite is only a 1 or 2 point favourite in which case I will accept the additional juice
2) If it is an underdog ML
If I am in a terrible run, I might revert back to taking the low ML's (generally around the $1.60 mark) to build up some confidence before going back to taking the spreads.
In the cases where you like the underdog in a matchup do you take the points or take the ML?