Analysis is great and absolutely necessary.

Too often we confuse analysis with design, then the heartaches start. Some problem domain things are immutable, some are not, some change over a fixed range, some are firm but expected to change, etc. All that stuff is critical to know as part of analysis.

I'd argue that you can do analysis incrementally right along with everything else. Reports sound like a great starting point. I agree with your advice, even the part about the pendulum swinging too far the other way. The problem is that, honestly, we suck no matter which way the pendulum swings. We continue to confuse the process with the goals.