1. One has to wear tight spandex jumpsuits. Just not as cool as one of those white ninja robe things with the neat belts.
Fair enough, but you get your wrist wrapped in loose fitting clothes once in the middle of a jap whizzer and you'll re-think the value of those tight clothes. Also, loose clothes can suffocate ya pretty good if someone is trying to pin you, which is already a pretty restrictive situation.
Oh yea, and there is an offset with the ladies, too.

The spandex don't hide nothing.
I'm talking about the bulging arm and leg muscles, you sickoh. What were you thinking?
2. Too much body contact hugging business going on. The possibility of a groin-face combo is not cool. Just not cool.
Yea, I can feel that. (maybe not the best way to express sympathy in this example). I also never thought I'd be in a situation where in they would say, "Now, the next step is to reach across and grab his big, right, buttock..." Truthfully, though, when you're in the middle of combat you don't think about such things.
3. No sweet jump kicks or roundhouse kicks or hurricane kicks or other such bad a%#ery.
4. Its not what Chuck Norris does. Cool
I can't dispute either of those two points. I will say that wrestling is as good as living chess. If you approach it the right way, the mental side of it is as enjoyable as the physical side. And approaching it the right way means doing the things that will help you win- which is to say, embracing the mental side. It isn't cat and mouse, its multi-layered, leveled, chess.