Jon, My mention of the twisted pair is only because the OP mentioned having 2 conductor woven shield milspec. Come to think of it, I can't recall ever building anything with that wire for totally unbalanced use, maybe a few times for interfacing balanced and unbalanced.
At Luminous we get custom orders for the shielded version of the Monarch II fairly often, always requesting the drain wire terminated at one end only. Our dealer in Indonesia orders 5 meter versions, RCA-RCA, used in audio systems at some high end custom limo shop there he deals with. For those we use 22AWG solid core silver clad copper twisted pair with foil wrap and attached drain wire. I was told the application has something to do with differential amplifiers used in 12V car systems.
During training on unbalanced shielded interconnects, I was taught that a true shield captures the stray EMI and RFI, and to achieve this the bare shield drain wire connected to the shield is grounded at one end of the cable only. That way all of the captured signals are "drained" to ground at one point. The result is protection from induced voltages on the conductors inside the shield, something a shield connected at both ends will not do with an unbalanced connection.
If the shield drain wire were grounded at both ends, that provides a path for current to flow between the two ground points. If the ground points are not at the same potential, current can flow in the drain wire, which is in contact with the shield, inducing voltages on the conductors inside the shield.
Induced voltages are a real threat to low-level analog signals run over long distances in parallel with higher voltage and higher current-carrying wires, that is one of the main reasons shielding exists. In live sound and sound reinforcement applications, multiple sections of cable, many unbalanced, are used for low-level analog signals which pass through multiple components, effect racks, and the console itself. It's a common practice to terminate only one end of the shield drain wire of each section of cable, so that the captured stray influences are taken to ground at one place only.
I just happen to reside in the camp of people that follow the one-end-open shielding philosophy for unbalanced interconnects. In a nutshell, I agree with the concept that a shield drain wire terminated at both ends becomes a current carrying conductor, inducing unwanted voltage on the conductors it is meant to protect, and a shield allowed to "float" at both ends does nothing at all.
I didn't invent the concept, it's older than I am, but I do prescribe to it 100% I guess we should agree to disagree on this one.....
Edit to add: That Analog Devices paper is great, and if you back up from page 15 you referenced, read the bottom of page 12 through page 13. It briefly touches on the one-end-open shielding application.