Not sure about a ten minute sin bin. You can get yellows all too easily, and it makes a huge impact when you're a man down. This will also reduce the willingness to challenge, which is not a good thing in my books.
I like the idea of homegrown players. I hadn't heard it before - I've only heard of a version where they must be of the same nationality as the club. This would be terrible for English football - we've barely got 11 top level players who are suitable for the Champions League; let alone 4-5+ for each of our four CL teams. However, having the rule which allows bringing in youngsters and training them, from other countries is a much more workable solution. Would be great for Arsenal too