Just to add to this post. The exercise of determining a derating factor actually got changed to determining if a certain breaker with a test certificate (T100a and three different time constants; 45ms, 90ms and 135ms) is suitable to the system condition.
Was successful in generating the actual decaying sinusoidal curve, and determine the separate amplitudes for the 1st, 2nd, 3rd ....major loops and also their durations. This can then be used to compare the tested breaker data (energy through the last major loop) with that of the simulated results based on system data. The only variables are the Isc rms and the time constant (or X/R ratio). The tricky part is selecting the correct loop for comparison, which can only be done with help of the manufacturer and the correct interpretation of the test certificate.