We've been thinking about (and working on) a lot of these issues--we're definitely aware that users would like (totally reasonably!) more visibility and control. If you have any more feedback, I'd love to hear it!
That would allow the flexibility for merchants to make their own decisions without the hassle of manually dealing with false positives. The trouble with the false positives is that you have to talk the customer into entering all their data again, without having anything specific to tell them, like "Er, you were declined, but I have no idea why...can you try again?".