2016/17 Fashion Police
 

Looks like it's getting easier for us, finally. I hope.

Synthesizing the Rule 3-5 down to it's most basic elements, here's what we appear to have this season, according to the new Rule 3-5-3 thru 6:

Sleeves, compression shorts, tights, headbands, wristbands: single, solid color -- white, beige, black, predominant color of the jersey -- and all the same for all teammates.

Undershirts: single solid color similar to the torso of the jersey.

No color restrictions on "ankle and knee braces", defined as "...anything worn for a medical purpose to increase stability. In general, it is made of neoprene or elastic knit with an insert embedded to support the joint. It may or may not have a hinge and/or straps or an opening over the knee cap."

Or does a definition like that open it up for just about anything on the market?

Which individual components must match with each other?

Exactly!

The Way I Read It ... Seems Simple Enough
 

Same as last season, except compression shorts were shifted over to match the sleeves, tights, and head/wristbands.
I revised the OP to account for the two "families" of colors (not just one as I formerly thought):

Color Family #1:
3-5-3: Arm sleeves, knee sleeves, lower leg sleeves, compression shorts and tights are permissible.
a: Anything worn on the arm and/or leg is a sleeve, except a knee brace, and shall meet the color restrictions.
b: The sleeves/tights, compression shorts shall be black, white, beige or the predominant color of the jersey and the same color sleeves/tights shall be worn by teammates.
c: All sleeves/tights, compression shorts shall be the same solid color and must be the same color as any headband or wristband worn.
3-5-4: Wristbands and headwear shall meet the following guidelines:
a: Headbands and wristbands shall be white, black, beige or the predominant color of the jersey and shall be the same color for each item and all participants. They must be the same color as any sleeve/tights worn.

Color Family #2:
3-5-6: UNDERSHIRTS shall be "a single solid color similar to the torso of the jersey...

From The List ...
 

Headbands, wristbands, arm sleeves, knee sleeves, lower leg sleeves, compression shorts, and tights, shall be the solid color black, white, beige, or the predominant color of the jersey, and the same color for each item, and all participants. Anything worn on the arm, and/or the leg (except a knee brace), is defined as a sleeve. Only a single item may be worn on the head (with no extensions), and/or on each wrist. Sweatbands must be worn below the elbow. Rubber, cloth, or elastic bands, of any color, may be used to control hair. Undershirts must be similar in color to the uniform jersey, and shall not have frayed, or ragged edges.