This is something we are also thinking about at the moment so this thread is useful - would be interested in the outcomes of your piece of work.
I'm also in the 'action points' camp although I have never been a democratic services officer so maybe it's an outsider's view.
I don't really understand why lengthy minutes are needed or who the readership would be.
Here in Swansea we produce 'chairs letters' to cabinet members after most meetings to share views, raise concerns and make requests / ask questions. They are public documents and (hopefully) written in accessible language - I think they can compliment short minutes quite well.
The other issue is whether you want to capture evidence from witnesses in minutes - my view is that notes taken by scrutiny officers, agreed with witnesses and published in findings or review / inquiry reports is a reasonable way to do this.
Finally, for something a bit more far out, I wrote this on social council decision making
covering some wider issues / ideas.