I'm afraid I'm not too familiar with BESS in particular, and the people I spoke to are probably not too keen on sharing much (which is generally true of those who work in U.S markets). Unfortunately it's all very opaque.
I'd be happy to provide you the names of the firms I spoke to over email, if that would be of use!
On top of what others have mentioned, this paper also sidesteps forecasting electricity prices, which is already a very complicated problem (particularly in U.S markets where we have zonal pricing) needed to build profitable battery systems that actually operate on the grid.
I've had a few chats with some folks working on battery startups, and I think the more conventional approach is to forecast prices + run an optimization to find optimal storage decisions. You could measure the system's performance by looking at how well the algorithm does when it has perfect information about prices (obviously, when you have perfect information about prices it is trivial to optimize the battery).
Being in SCED just means that the resource bid into the real time energy market (which clears every 5 mins), it does not necessarily mean that the resource is cheap to dispatch. The confusion here might be caused by the differences of the ancillary market (PRC) and the energy market (SCED).
I'd be happy to provide you the names of the firms I spoke to over email, if that would be of use!