I agree with your 'dissenting view'; HaChu also plays according to that rule. It absolutely makes no sense to forbid this, as, like you say, there is no Lion trading if there is no recapture. So the JCSA rule makes no sense. And the rulses are designed to just prevent trading, doing their utmost to minimize the impact of that. The explicit mention of the 'hidden protector' example in some of the Edo descriptions IMO is meant to indicate that the matter of 'protection' should be judged after the capture, rather than before it.
I am curious about your 'Early years' remark. What evidence are you referring to? Are there tsume problems that only have solutions when such promotion is allowed? (BTW, 1700 doesn't really sound as 'early' to me. It seems Chu Shogi was first mentioned around 1350 BC.)
The issue of 12th-rank promotion of GB seems moot to me: After entering the zone with a deferral that 12th-rank is still 3 (usually heavily defended) squares away, while moving back and forth only requires 2 moves, and produces the Elephant in a more active location. This in addition to the fact that it would be extremely rare you need the GB to go to a location where a +GB could act as a capture bridge. I know of one Edo tsume problem where this happens with a Pawn, but that is obviously a constructed position. So it surprises me that there even would be a rule (traditional or not) for something that virtually never happens.


Although most of the chu shogi rules are quite clear, the reach of the JCSA during this millenium has caused disruption with their unilateral and unsupported decisions. In this post, I will outline what the JCSA currently implements, as well as how chu shogi was played for centuries before.
Promotion.
Repetition.
Lion bridge capture (sole defender). Capturing first a pawn or go-between, then the lion which only it was defending.
Draw rule.