The functions you present are smooth so that is fine. The scale at which PAL is now suggests that it should be modelled discretely. But since they will change that (which I didn't know :P ) implies that your points are valid for the new system :o)
I would say a discrete model would anyway need this continuous approximation. It may be less accurate, yes, but I believe even the computations behind the scene are doing the same computations and truncating right before payout assignment. But yeah, because of that, for example, the minimum payout per rshare is basically 0 with current parameters, so I guess that is a very relevant point. (Unless they have a large amount of rshares to assign, which I think needs to be like 10k/100k ish)
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