Maybe I've been doing SWOT wrong. :-)
I would also think about SWOT AFTER we've defined what we want to achieve and defined some market context. i.e. in THIS context, to achieve THIS goal (winning aspiration), what is the SWOT? In virtually all cases (in my experience), this has been worthwhile. The solution space was usually very narrow, so the SWOT wasn't (significantly) different for different solutions. Is that incorrect?