Hi Chris,
I just a quick test bsv & PROTECT / INLINE EDITING work fine together.
Here is what I did to test:
1) Created a BO: test
2) Rule on test BO: If NOT(test IS NEW ) Then PROTECT test FROM ALL
3) Create a query of test with inline editing allowed.
4) run the bsv
5) create new test instances
6) run query
7) try to click on an attribute to inline edit. Message appears: Editing of this cell is not allowed
Tom