>>However, I'm not sure I understand all the technical terms I've read in similar posts such as "thermal mass".
Think of thermal mass as the ability of an object to hold heat. This is partially due to its weight, but also it's other properties.
Let's say we put blocks of aluminum and stone in the oven, each weighing one pound. If we heated them both up to 200* and then pulled them from the oven which one would hold heat longer? It would be the stone as it has greater thermal mass.
If we then took two blocks of stone, one weighing two pounds and the other weighing one pound, the two pound block would hold it's heat longer. The thermal mass properties are the same but the two pound block would hold the heat longer because there is more of it.
Thermal mass is beneficial for efficient heating, but it also interferes with efficient cooling. So again, its use and importance depends on the species in question and how it's being kept.
>>It seems that the best design is the one that works best for the individual. Correct?
Absolutely.
>>I'm mostly keeping Ball Pythons. I keep a constant ambiant room temp of around 75-78 degrees. Does this qualify me for the open system rack? LOL =)
I would absolutely use an open rack for Ball Pythons under those conditions. No doubt about it. Again, I would prefer the rapid cooling you could duplicate during the brumation/breeding season. I know of one big name in the BP world who uses open racks for this reason. I won't name any names as I know BP people can often be very protective of their "recipes" 
>>I think I uderstand that the open/closed rack system depends partially on ambiant snakeroom temps. Colder rooms would do best with closed systems, and heated rooms with open systems. Right?
>>I know it's not that simple, but...
I think collection size and the night time temp drops are what's more important. If I kept five snakes total and they were in a cool room I would give a slight advantage to the enclosed rack -- especially if the species could or needed to be kept warm at night. If they were a species that did well with quick and dramatic night-time temperature drops, an enclosed rack might still restrict this to some degree.
How well this relates to your personal philosophy on keeping ball pythons is up to you. I know how I would keep them.
If I kept 15 snakes I would never consider keeping them in a cool room. At that point the efficiency of ambient room heat will start to pay for itself and I would make every attempt to use it.
There are obvious situation where this is not practical, obviously. If one were renting and the snake room was too large to heat, for example.
-----
Current snakes:
1.1 Gonyosoma oxycephala - (Silver/Yellow)
2.2 Gonyosoma oxycephala - (Green)
4.3 Gonyosoma janseni - (Black)