That was an awesome breakdown. I've never heard Marxism described quite that way...but frankly, the only things I've ever heard about Marxism are the absolutely ludicrous things said by the right and the stuff I've found on my own. Certainly not a great deal of exposure.
Reading Marx (or some explanation of his work from different point of view) is interesting. I think most of his critics do not apply to this world but he do have an interesting point of view and adding some of his ideas into your personal philosophy. I found really good critics of Marx from a rather liberal philosopher. I forgot his name, it was at my college library, but i'm pretty sure that if you are interested in philosophy and in economics theory you should read some of his work.
Part of the problem is that people tend to conflate Marx's approaches to history and economics with the (often conflicting) political parties and movements that claim to fulfill his predictions, referring to all of them as "Marxism". This is by no means limited to opponents of Marxism or socialism, since various groups are fond of claiming Marx's mantle for themselves.
