Notice how everyone is picking preferences and OP didn't even ask for them. Just saying.
Everything you listed was correct. I can usually watch dubbed or subbed equally without problem if the acting is equally good and the actors fit the characters. I prefer them based on how well they represent their characters. This can probably be a little hard if I watched and got used to one version for a very long time without seeing the other though.
In the end, however, I tend to prefer subs. The reason being is that my biggest peeve about dubs is #3. I don't like things being lost in translation. There are some concepts that simply don't exist in English. Leaving in or removing honorifics might sound silly. Cultural barriers might exist that can't simply be explained outside of a note on the top of the screen. If the acting is equal, these things will be the deal-breakers for me.
For example, I don't like when jokes don't work in English and make no sense when they try to say them. I can list a few times where characters speak English and the entire joke hinges on the fact that they're speaking English. That can never translate properly without being rewritten. They change the random English into random French or something. I'm remembering a moment in K-on where they say something about going to America and try speaking English. I have no idea how they'll translate that in the dub.
The last time I posted in one of these thread, I listed Cowbow Bebop as having an amazing dub. They don't do honorifics and don't need them. There are no big cultural terms to get lost in translation and the acting itself is superb. I only ever heard one person dislike it (a friend in real life), and I suspect him to be very quick to judge and a subs-forever person. I pretty much gave him the wall of text that I'm posting now and asked him to give it another shot.
The Abhorrent said:
Snip of Doom
So in summation:
A good dub is the ideal situation, but the most difficult to pull off.
A good sub is the most practical situation, but may be lacking mass appeal.
A bad sub is workable, because you can get away with it.
A bad dub will comdemn a work to obscurity at best, provided it avoids the ridicule.
This is pretty much everything I mean, snip included. I want to add one thing to the final point though. A bad dub will condemn a work to obscurity unless the bad dubbing becomes wildly popular as "so bad it's good." I don't think I can name any examples off the top of my head.
Edit: After reading a few posts, I have a few fan-complaints that annoy me a bit and I just want to get it off my chest.
I don't complain about having to read since I read fairly quickly and can watch the action mostly without missing anything. I realize that some people don't read quite as quickly and I kinda understand this argument, though "being forced to have your eyes glued to the subs" is probably an exaggeration and I don't like hearing it. When you rewatch something, you should probably have an idea of what they're saying and can mostly ignore the subtitles that time around. Or you can just rewind a few seconds if you really must.
Don't blindly hate on dubs and automatically list the actors as bad. There's really no excuse for that one.
Try not to compare the sound of the English and Japanese actors if you can help it. Open your mind a bit more and stop comparing. Watch them both on their own merits. I kinda know it's a bit hard if you watched one for a very long time and can't hear it any other way, but try watching both versions of a new show one of these days and see what you think.