My parents didn’t have “rules” so much as “expectations,” and they seemed to work pretty well for us. All of us kids did well in school, had healthy social relationships, are happily married, etc. They gave us a lot of leeway, but only once we had shown we were ready for it.
That’s essentially what I’m trying to build. I want my kids to see me as a counselor, not a rule-maker, but I do want them to respect my authority to step in if they veer too far outside my expectations. If my kids want to do something that we currently don’t allow, they’ll present their argument and I’ll give my concerns (e.g. my 10yo wanted to know when they could babysit, and I told them my maturity expectations). So far it seems to be working well, we’ll see how the teenage years go.