Three more off of Grady's:
1. All bunkai must snatch the situation's intiative away from the bad guy and give it to you. You might snatch it at the very beginning (pre-emptive) or upon the first offensive movement of attack. BUT your bunkai MUST give the intiative to you.
2. Once you have snatched the initiative - your bunkai must KEEP it until the attacker is neutralized.
3. Never design (or accept) a bunkai that requires the attacker to make more than the first, single, specific movement. Good bunkai should not address situations like, "First he pushes me, then he grabs my lapel, then he slaps me twice, then he punches me". Bunkai should start at the very first reach toward you, take the initiative and neutralize the guy.