holdmetight, your post is pretty accurate - just wanted to add a few things.
There is no more "intermediate" flight grading for CX
Also, the training received as a cadet in Adelaide is exactly the same, whether you are from CX or KA
Outward Bound is a thing of the past, and will not be a part of the program anymore.
And yes, as you mentioned, KA cadets graduate to become "flying" Second Officers whereas CX cadets graduate just to become a relief pilot (second officer)