I'll say it again, but the swinging feels very much like a conscious and clear design choice, not an oversight. It isn't changing. SM2 swinging would be a nightmare in this dense city with considerably more complex geometry, not to mention the chase scenes (cars, enemies, helicopters) simply would be much more frustrating with SM2 physics based swinging. They want to maintain "regular" speed (it does vary) so that predictability and control are both at the top of the priority list.
So while I think it's genuinely understandable that you would prefer a more physics based swinging system, it's exceptionally unrealistic to expect them to change it this late in the game when they've literally designed so many different encounters specifically around the way their swinging works.
I wish more people read your posts in this thread, I gotta say I've enjoyed your explanation of the mechanics a good deal, seeing as you had a good amount of hand on time with it as well makes me feel like you know what you're talking about.