For me that is both fair and realistic. I have add-ons I can't live without and until they are updated the choice is update or keep those functions. My current plan is to get a live site up and running 18.104.22.168 (I'm close) and then keep a development branch going that I can add updates to, both core and add-ons. Taking that to say 22.214.171.124 and when it's ready to release, I'll rinse and repeat. Until the add-ons get to a point where they are not impacted by changes to the core I don't think it can be managed in any other way. If there is, I'd certainly be interested in knowing.
A new version has been uploaded with these changes:
Changed code to fix a 7.3 compatibility problem.
Changed code to fix the character conversion option.
Split into a Phoenix and non-Phoenix versions. The former accomplished by files supplied by @raiwa.