Great subject material there Phil - PJD1 and some great input from knowledgeable members here.
There's a lot of myths, pet theories and current accepted understanding surrounding antenna systems and radio so it can all be difficult to wade through. Just when I thought I was getting to grips with it all I discovered 'common mode current' which threw a right spanner in the works.

SWR definitely isn't the 'be all and end all' to antenna systems and as mentioned above rotates around coax use age. If you've ever used open or ladder line feeders you'd soon realise as such as well as if you'd utilised valve tuning systems of old.
If you have a field strength meter as well as SWR meter you'd quickly find out that a 'perfect' or low SWR doesn't equate to the highest reading on the field strength. Conversely a higher field strength meter reading usually results in a higher SWR reading!
(Worth experimenting tuning an antenna to see these results and once upon a time even CB users realised this when setting up for mobile operations.)
You'll find similar difficulties such as antennas having to be 'resonant' and yet some of the best antennas, (and commonly used), usually aren't resonant on the frequencies they'll be used for. A typical 5/8th wave or even the Extended Double Zepp are such examples. (My homebrew 2m vertical is actually resonant on 6m!)
It can become quite difficult understanding all the concepts but is usually part of the fun for some when it comes to antennas. I'm still learning and enjoying it thoroughly as well as reaping the benefits of homemade antennas.
For those not wishing to venture further into the quagmire we use what is available to us which normally means a manufactured antenna and keeping the SWR reading low. Usually this is just to keep our semiconductor radios happy so if we get a 'reading' less than two we're good to go and three or more the radio as mentioned will drop it's output.
There's the proverbial 'quest for the holy grail' of the perfect antenna system and some of just simply want to get on air.
I still firmly believe any antenna is better than no antenna....but I've had a lot of fun finding out more.
Great posting and well done to everyone for adding their own expertise and understanding. Awesome stuff.
All the best,
Victor