<<Can I simply look at the balance of all these buy/sell transactions (I did it in Excel) and pay ST gain tax rate on it? This would seem to follow from the rule that the cost basis of the next position is increased by the previous wash sale loss.>>
That is the net effect, but you still have to calculate the individual gain and loss (including the effect of the wash sale) of each trade separately, (unless you qualify for trader status, in which case wash sales don't exist). At least that's what I've done for each of the last several years in which I've traded enough for wash sales to be an issue.
One problem with qualifying for trader status is that in addition to meeting the somewhat ambiguous tests, I believe you also have to apply for this status IN ADVANCE (i.e., in order to qualify for trader status for tax year 2002, I'm pretty sure you would have had to have been blessed by the IRS for this status by April of 2002).