1) The show would not be serialized. "Self-contained. Seriously. We promise," they wrote. "This is not lip service -- we are absolutely committed to this conceit," they continued. -- Ha! Nope.
2) Everything on the show would have a concrete scientific explanation. -- That's iffy as f**k.
3) "There is no 'Ultimate Mystery' which requires solving." -- Take the ultimate mystery out of the plot of Lost and you don't have a plot on Lost.
4) The mystery of the Smoke Monster would be revealed in "the first few episodes." -- It took six seasons.
Lindelof and Abrams didn't know what the show was yet. They say as much themselves on the first page of the doc*ment: "The greatest architect in the world can draw up a blueprint for a building, but construction is a whole new ball of wax."
The problem with that metaphor is that ABC asked for the blueprint after they started construction. For starters, the show was rushed to pilot, it was the most expensive pilot episode ever at that point, and it wasn't until the pilot was being filmed that someone at ABC realized that no one had any clue what this show would be like a few seasons down the line, or even by the second episode. ABC execs were afraid the show would end up mired in mythology like Alias was at the time. So Lindelof and Abrams wrote this doc*ment to make ABC happy, but never intended to follow it. According to Lindelof, "By the time we started breaking the first two episodes, it was already very clear to everyone in the room that the doc*ment that we had written to get the show picked up was going to be completely and totally null and void."
"Run! We'll figure out why later!"