I will be voting “For” this proposal, with the reporting feature included.
As a broad concept, I think this is a great idea. Naturally there would be concerns about centralization, however as we’ve seen from the data points a lot of the multisig projects have the same people working on them. Plus, it looks like changes have been made to alleviate some of the possible issues. Regardless, the reduction in costs and administrative complexities outweigh any increased centralization factors (that again, can largely be mitigated and possibly already exist).
Others have brought up great ideas / concerns, of which I largely agree with or atleast feel are valid enough to warrant the discussion. Of note, I will echo others about having some more guidelines for those on the council. Whether that is term limits or shorter voting periods. The report should be be helpful as well and welcome its addition.
As for the discussion of current-running multisigs, I think the best course of action would be to let them run out as originally voted on unless there is a consensus reached by all the multi-sig signers that they would like to turn over control the new MSS.