On transition, the Ireland, citizen and exit-money issues should be resolvable. Talks, continuing next week, are about fine tuning. So a transition period of 2 years looks on the cards, and personally, I don't have a problem so long as it isn't extended a minute longer (Labour are talking of extending possibly 10 years or more, which is a clear attempt to deny democracy and stay in the EU in all but name).
You're right, the kick of the can down the road gives EU export industries and money-recipient states longer to assess the effects of Brexit. I believe the UK has to prepare for World Trade rules in 2021, and assume the EU won't compromise on free movement of people, which must be a deal breaker for the UK. Then pressure on the bureaucrats from within the EU will build, and a bespoke UK deal may just be possible. There's the issue of whether we keep EU regulations and standards (the Philip Hammond camp) for more than exports to the EU. Absolutely no reason why we should when trading with the rest of the world. We have to plough our own furrow, while being as reasonable as possible with the EU to smooth business.
Interesting today in Germany. Merkel a shoe-in, but will we see a return of fascists to the Bundestag for the first time since 1945...?