Excellent post. Quite thorough.
I copied the following from someone here (I'm sorry I cannot credit the author):
"Balance works with the precision rating and represents consistency throughout the different distance increments of your putter. The higher the balance rating, the more you can rely on the ball consistently going the distance you've struck your putt, especially so on longer putts. Balance also works with forgiveness to help reign in the effect of miss-ding hits, also making them react more consistently on longer putts."
I can comment on the L44 Redwood. I've had it for roughly 40 levels. Both Balance and Forgiveness are rated well below the various MAX & Nike putters. Everything drops inside 4 ft - those few 'fall off the edge of the world' putts we run into on occasion notwithstanding.
The Redwood was a solid putter for me through Tour Pro. However...We as a team have not adapted well to Tournament greens. Reasonably straight putts inside 12 ft should drop more often than they do, IMO. Many a round, 2-3 strokes per nine holes are lost due to lip-outs. It's maddening, I tell ya! 8*)
Hence the desire to upgrade.
However, putters are so very expensive (all my purchases have been made using earned credits), and renting for one day isn't nearly enough time to make a good assessment. So...
I very much look forward to the responses you receive.