Hello Jonathan,
A nice contribution. To distill some truths from your essay, I quote excerpts and follow with remarks.
RE: "it is reasonable to observe that an ongoing interplay between 'It from Bit' and 'Bit from It' is an essential part of the natural order, and that this exchange of modalities is more fundamental than either view is on its own"
Quite correct.
RE: "the notion of 'Bit' has been generalized to include a broader spectrum of information types, and I think this is wise - because information does not always fit into conveniently-sized packages"; "...if we allow a sufficiently broad definition for quantifiable information..."; "There is always an interplay between information becoming stuff, and stuff becoming information"; "While it is quite clear that information of some nature does give rise to the universe of form, thus fulfilling Wheeler's vision of 'It from Bit',"
From all these, would you consider 'existence'/'non-existence' as a binary choice? Many have conceded to including this as information on this FQXi forum. Then given that what exists must have extension, no matter how minute and what does not exist would not occupy space, your ideas may coincide with mine here.
RE: "In relation to 'It from Bit' Physics, time and space are both the stage and the place for the audience to watch from"
Suppose space and time are not just the stage and place, but also the actors as well, contrary to what Gerard 't Hooft told you? That is exactly what I too suggest in my essay so leave this option open till you read my essay.
A very nice essay to be well rated.
Regards,
Akinbo