I don't think I'm really qualified to say too much about the CAA side of things, but for me DFC has by far the most persuasive argument on what you can legally do with an IMCR. At least he has provided an argument (with references) which gives the relevant part of the AIP the legal force of the ANO. His argument that the 'but' is key is very persuasive. I still reckon he works for a regulator
Fuji is quite correct though, it's all very badly written.