This is very sound thinking. I have some thoughts to add. This applies to online dating and offline pickup opportunities....
Just because a girl looks hot doesn't mean she's great in bed. We have misled ourselves into believing that the hottest chick in the room is also going to be the best in bed. That's not necessarily true.
All those notions are really subjective anyway. What is hot? What is great in bed? I imagine those are different for everyone. I want a woman that looks good to me. But she may or may not necessarily be the hottest one in the room. That is up for debate.
I've dated plenty of hot chicks who became lazy in many aspects of their life because of their looks. No conversational skills. Worse yet, great to look at, but boring in bed. What value is that? So my friends are jealous, but I'm not getting what I want from the girl.
On the other hand, I have found chicks who are hot, cute, attractive, interesting, but not necessarily 10s, who were like porn stars in the sack. For my time, that is a whole lot better value.
So the question is: how do you position yourself (in online profiles, or offline in bars / pickup sets, etc...) to find chicks who will really get you off? How do you find out if the chick you are spending so much time and energy working on is worth it sexually? Maybe she's terrible. Maybe she's only into straight missionary and you want a chick who's into bondage.
The first huge step is figuring out what you want out of a relationship / woman. If you don't know yourself well enough, how will you know what you're looking for or when you've found it?