I find it interesting to argue this referendum in comparison with the Province of Quebec (disclaimer: I'm from Quebec). Forget Canada vs Scots, both are different.
I've learn two things about referendum:
1. It gets emotional. It's ike the atom bomb of politic. What? You disagree and you'll get out of the country!? People behave differently. So... This article from the nyt looks like a scarecrow in support of a No vote. Scots do not care about our housing bubble caused by artificial low interest rates.
2. A referendum is not "unusual" or about "substantial funding". It is history in the making. Why the Scots will make a referendum, is not about federal money.
I believe in federalism, for the motives expressed by Milton Friedman. His way is to give more power to the states, and more to the cities.
A strong big spending federal gov is not ideal. Thanks housing bubble!