Dear brother Mubashir,
Salamun Alaikum.
The interpolation 'and to abstain from such marriage' is a very dangerous and unwarranted insertion by the translator. There is absolutely no warrant for this. It is almost akin to making something prohibited when God clearly provides options despite the preference to abstain in patience. No human on earth should interpret this as an abstention as the translator has done.
Point 2 is also problematic as after marriage a woman would not remain in servitude of a master. She would be a man's spouse and should be treated no differently after 'Nikaah' as another wife. Of course her answerability would be less in some aspects as the Quran expounds. This concession may clearly be due to the possibility of her marriage being founded on some sort of compromise and due to some inherent inclinations. However, many women would be happy to give up their status as a slave / maid to be taken in as a complete spouse. However, this does not translate into a 2nd class wife.
With regards point 3, one of the expectations of marriage in the Quran is that believers seek out women who are 'muhsanat' (chaste). This is further implied by verse 4:25 with respect to right hand's possess as well.
One would be inclined not to prejudge women in such a manner despite the nature of their background especially when they are presented with better options in life for the future. This of course does not rule out manipulative women, but that personality trait exists as much in free believing women as it does in men. There have been possibly many, no doubt, throughout history that have been stung by free women, as there are women that have been stung by men.
Finally, I agree that physical attraction should not be the sole reason for marriage. You are correct. But unlike yourself, there are others that assert that physical attraction should play no part in a marriage decision. This particular assertion is strongly challenged by the Quran which recognises that even the Prophet found women attractive. There is a hint that in his marriages too, physical attraction could also have played a part in his decision making.
The interpretation would be difficult to refute in my humble opinion due to the clear text of the Quran. It can of course be denied.
033.052
"It is not lawful for thee (to marry more) women after this, nor to change them for (other) wives, even though their beauty attract thee, except any thy right hand should possess: and God does watch over all things"
If the above verse is studied carefully, despite the prohibition with free believing women, the Prophet was allowed to marry those from the right hand possessed as wives. Please read clearly the Arabic condition: 'walaw a'jabaka hus'nuhunna' (even if their beauty pleases you) which has been clearly presented by the Quran.
I hope this helps, God willing.
Joseph.