Well, naturally, I like the idea of a separate feat category. It is cool and allows expansion
But I do like chain values; they are simple, intuitive, and modular. There is little need to add lots of complexity in rules.

Also the sort of staggering power of Palm Strike is cool for multiple players. A -2 to ac until the start of THEIR turn would be a cool way to do it. The monk goes in, softens the guy up for the rest of the team, jumps out of the way and combat continues...

Reading through the old text I see some dirty fighting happening there; that is so a feat:
Forbidden Hand
with stuff like kicking dirt up, tripping, drawing a hidden weapon, groinstrikes...