I know I'm late to this, but oh well. And I posted a comment in the actual blog post, but here are my thoughts:
I don't see a need for Dev Threads. When I was an RPJ patrolling the Factory, I only used Dev Threads as a way to indicate that the submitter had put serious thought into his or her creation. The Dev Thread showed the creator had considered the history of said item and all of the major and minor details. It was only useful for filtering out the spur-of-the-moment submissions.
That said, I believe the same can be done with simply having submissions include a decently detailed description of the item. Tell me what the item is, what it does, why it was created, etc. Or, in other words, create a "character bio" for the item.
That leads me to something that sorta bothers me (not in a bad or good way). We don't police character bios. But we police and restrict Factory/Codex submissions. Characters are supposed to be the driving force behind RPs, not the trinkets we carry. Factory and Codex submissions are lore, which is by definition the background/context for our stories. Characters are the (supposed) primary force behind everything we do. If we do not bother reviewing or approving or policing character bios, why are we spending so much time on the lore/background/secondary items? Should it not be the other way around?
Character bios are only reviewed if a conflict occurs, such as if I posted a Darth Asemir bio that made him capable of belching Death Stars and I tried to apply that same characteristic to a PvP battle. I believe we should do the same for Factory/Codex submissions. If it's not a problem and it's not being abused, why the need for such a thorough review? Anything that's at issue can be judged on a case-by-case basis. Not to mention, in my experience as an RPJ, most of the conflicts that occurred where a Codex/Factory item was discussed were not truly stemming from the item itself but how it was used by the writer. Those conflicts are about writer-to-writer maturity and interaction, and should be judged as such.
That's my two cents on Dev Threads.
As an aside, regarding Strengths and Weaknesses, I think mandating those are pretty limiting and annoying. I understand why they are required, but they don't actually mean anything or have any equivalence to "Real Life". Does the Homo sapien race have any strengths and weaknesses? No, it really only has characteristics. "Vulnerability to fire" is not a weakness; it is a characteristic. "Unable to breathe ammonia-rich atmosphere" is not a weakness; it is a characteristic of having a pH stability based on water.
You can't evaluate strengths and weaknesses in a vacuum. Any strength and weakness has to exist within context of something else. The same inability to breathe ammonia vapor can act as a weakness in one context but a strength in another. That's why I feel listing strengths/weaknesses is really.... odd.