The devs have sprinkled enough knowledge here and there about this stuff that I feel pretty certain your assumptions are correct.
As for your questions.
I am pretty sure that "Current Season" flips as soon as you move to the Off-Season.
I think a pretty good assumption would be that Current Season stats just hold 0 weight until they begin to accumulate and the value of the other categories gets pro-rated to compensate, which would effectively be your 34/0/33/33 example if your settings are at 25/25/25/25
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