:laugh: you know there's a 40k rules discussion thread on this site, eh? Lots of people aren't on Dakka/are here for a reason.EDIT: Made that topic and it seems the consensus is that you can't have a CML on top of a Hammernator according to RAW. But again I'm sure that if you clear it with your opponents all will be well!
The 'swap all weapons' does not mean 'take any upgrades you want then swap them all out for x and pay all the points', it means the model's hands are full. It was worded that way so that Sergeants could swap their power swords as well, unless you've forgotten that fateful FAQ from 6th edition. I agree that it stops you from taking the CML first then taking the TH/SS, but again...why would you upgrade just to take it away?
Your only point of contention is this:
In actuality, the requirement for access to the list is having 5/10 models in the squad. Swapping the storm bolter is again just a matter of how many hands a Terminator has, and merely stops you from having to put the SB into a holster at its side since GW provides its kits with 100% WYSIWYG capability and expects hobbyists to follow that guideline. In order to take the assault/plasma cannons or heavy flamer the Codex requires a stormbolter swap, but the CML requires you to have a specific number of models in the squad.The end result is that no swap is made. However in order to get to that point you must have a storm bolter initially. It is a requirement.
"You must have a storm bolter to not swap it for another weapon" got laughed at by my gaming group in any case so I've got nothing else to add from them.