Very useful insights, fellas.
I like where you are coming from with the assessments, though I don't know what your company calls Runway Condition Code 2.
Boeing and 'Bus have 6 RWY condition surface options from which to choose inflight.
Once the RWY condition goes from Wet to Contaminated (above 3mm of standing water), operations are prohibited in most companies in Oz, as far as I remember.
So, it would be useful to apply the RF in a fashion similar to Curtain's procedure to figure out a Contaminated cutoff value.
The other percentages you are suggesting, though, isn't so flash.
Once a RWY has been assessed as Contaminated, then it's game over.