I agree. A property owner "Owns" the airspace above their property from zero to 83 feet. From 83 ft to 500ft is for the hobbiest. From what I found maintaining an altitude above 83 ft over someone's property IS considered legal according to the FAA.
I did some quick research and what I found agrees with what you wrote. However....
A recent Wall Street Journal (a much better source than "....they say....."!) article quoted someone from the FAA saying that states and cities/towns do NOT own the airspace, it's the domain of the FAA. However, if you're the unlucky guy who has just violated some sort of local ordinance, got arrested, etc., even if it proves to be an illegal rule/law etc., you're the one tasked with paying an attorney to get you off the hook!
Fortunately, where I fly (a public park) in a relatively small city, there hasn't been any rush to pass legislation limiting "drones" to much of anything. There is a state park out on the edge of town and they've made it pretty clear it's against the rules to take off there, land there (except in an emergency) or fly there.
On another forum I've seen references about the federal rules against flying in national parks. Some wag wrote that you can fly in the parks, you just can't takeoff or land in them. Well, that *might* be true, but a No-Fly-Zone means no flying. Someone who makes their interpretation that it's really a no-landing or no-takeoff zone better be prepared when the park ranger shows up. Right at that moment, if he thinks you've broken the rules, you're probably going to need either a bail bondsman, an attorney or both!
I just do my best to keep away from private property unless I've been given permission to fly there.