Does honoring one's parents necessitate overriding all of a son's life decisions, including marrying a woman of the same faith, especially if the parents reject the son's choice of wife for flimsy reasons?

If the girl is religious and of good character, your parents should not prevent you from marrying her. The fact that she is not from your town does not religiously preclude marriage. Try to convince them; if they agree, then praise be to Allah. Otherwise, their obedience takes precedence, unless you fear falling into something forbidden. As for your life decisions in general, obedience to parents is obligatory in matters that benefit them and do not harm you.