I think IPSC should have a category with those rules Brian. I shoot in Europe and we have no Mag restrictions and the only consequence of that is that everybody shoots the same (expensive) gun, or a glock. Other options will put you down on the scoring list.
I agree with the ten round rule you suggest. It would have the advantage that people can enter stock class with other guns in major calibers than 1911's and glocks. Now people can compete in a serious class, without having to: either spend $2000 on a S_I, or having to shoot with a glock as the only alternative.
Production class in IPSC (not USPSA) allows no mods at all. That sucks too. I mean, the rules in IPSC production are so inconsistent and yet so tight.
I furthermore dislike the fact that USPSA has no influence whatsoever on European IPSC. Some of the rules you wish for are found only in IPSC and not in USPSA (yet), but limited 10 would no doubt be my class if it was an IPSC class in Europe. But...no magazine restrictions, no limited 10.
It basically comes down to this: I would like to be able to compete in a class where gear is not the main thing and you can choose what you WANT to shoot to win and not what you HAVE to shoot to win. Somewhere inbetween production (IPSC) and limited (IPSC) with a 10 round restriction (to stop hicap-big$$$-gun-mania)?