The Lowest injection point is a bit hand-wavy because ideally, you'd also have to account that recent new players face players who are relatively closer to the rating floor after the compression technique.
An iterative method is indeed the best method to assess relative strength. On top of having a lag as small as theoretically possible, it can also rate accurately semi-isolated pools against each others.
The issue with URS however, is psychological. Your URS changes spontaneously all the time, even when you don't play, because of factors seemingly independent from your action. The best solution might be to use the insight of URS to introduce inflationary or deflationary measure, different in each federation,reevaluated on a yearly basis. Such measure could be rules surrounding initial rating, rules for rating won/lost against unrated players (you could be awarded points after they get one).
Maybe one simple elegant such measure would be to compute Elo variation of any person based on their Elo relative to the URS of their opponent; or some weighted average of of their Elo and URS, even 2% URS should have Elo converge close to URS in no time while barely being noticeable by any individual player on a singular game.
An iterative method is indeed the best method to assess relative strength. On top of having a lag as small as theoretically possible, it can also rate accurately semi-isolated pools against each others.
The issue with URS however, is psychological. Your URS changes spontaneously all the time, even when you don't play, because of factors seemingly independent from your action. The best solution might be to use the insight of URS to introduce inflationary or deflationary measure, different in each federation,reevaluated on a yearly basis. Such measure could be rules surrounding initial rating, rules for rating won/lost against unrated players (you could be awarded points after they get one).
Maybe one simple elegant such measure would be to compute Elo variation of any person based on their Elo relative to the URS of their opponent; or some weighted average of of their Elo and URS, even 2% URS should have Elo converge close to URS in no time while barely being noticeable by any individual player on a singular game.