Have the "Palestinians" formally recognised the existance of a Jewish National Homeland

Yes they have.

their immediate resort to military action and their resulting military defeat had consequences which they have steadfastly refused to acknowledge and live with - Their choice was to gamble and they lost.

More lies. The founders of the state of Israel had been ethnically cleansing hundreds of thousands of Palestinians from their homes and villages for several months before the start of the "War of Independence". Nobody immediately resorted to any military action. The "War of Independence" was merely a continuation of a process that had been ongoing for several months, while nobody did a thing to stop it. It was only after other Arab peoples stepped in to help the Palestinians who were being ethnically cleansed, that the founders of the state of Israel declared it a war.

And then after armistice, they then proceeded to create one pretext after another to take more land, committing numerous acts of aggression on their neighbors, including massacres of Arab villages, as a way of creating such pretexts. Each time, it was Israel who instigated the aggression (with the exception of 73, when the other countries were taking back land that had been illegally taken from them), but Israel only called it a war when the people it was attacking responded.