Hey Trevor,
great second post.
I agree with most of what you say but have to point out that you left out a big technique: search trends.
what you describe is finding apps that are already there and competing against them.
A different approach would be analysing search trends and match against niches with no apps.
For example, I remember discovering that paddling was a huge "industry" (as a sport) with ZERO apps.
For this, you would use services such as SearchManSEO or mobileDevHQ to identify niche "hotness" or the oldschool SEO way using GoogleTrends/Keywords.
hope it helps, Giacomo