I'm all down for first-principles reasoning, but I don't like that term for some reason. For some reason it makes me think it's unduly favoring deduction and making assumptions whenever possible, even though it's not. If you start from good first principles, like the axioms of probability theory, all of a sudden you get inductive inference and deductive as a special case. Yay! Nevertheless I'd still more enjoy shouting "Baaaaaaaayes!" from the rooftops than "First Principles!"