Is the argument against Psi research that it is - according to the current paradigm - unlikely to bear fruit or is it that there is better stuff to research?
I made the initial contention that if there are so many people believing this "obviously" false belief, then that 'Science' should take some time and provide negative evidence. But I think anor and Wilshire went a-tangenting...
But yeah, if it where my dollar, I wouldn't put it in psi research, because I personally don't think there is anything that we can find at this point in time. Maybe in the future, but probably not now.
As for what the argument was actually about, I don't really have a clue. Mostly about semantics as far as I could tell.
To step in with raise finger and just demand correction: this conversation will always remain important to me and so I must go on.
We have... almost 7 billion brains. A much smaller number of graduating academics,
interested in research (though this contention is too rife with complex antecedents at this time).
Combined with this we have "human problems," which include for my argument (feel free to list others) lack of nutrition then lack of a quality education (I would also love to have a discussion with this board as to what constitutes that in the first place).
Realistically, there are a variety of cruxes, which impede the manifestation of knowledge - for all we know, we're missing out on mind/brains that might have superseded the greats, which is likely because the random manifestation of genius seems mostly due to socioeconomic factors.
And in this context, we have our super-competitive academic institutions, where the
actual manifestation of new human knowledge is constrained...
To bullet-point some food for thought:
Ethical constraint - Not supporting Neil and Mengele but the people who make up institutional ethics board can be assembled from pretty much anywhere, with equal qualifications, rather than using specifically academics employed in positions where they benefit from the presence of non-academic corporate leadership on an ethics board.
Corporate constraint - There are documented instances whereby corporations legally or monetarily veto publishable research from partnerships with educational institutions. Follow the rabbit-hole of privatization and the emergence of corporate states.
Military constraint - There seems a clear division between military and institutional research, in that, any research can 'become' military research and thus, we can never be sure what the military is researching, only that that research is likely absent from institutional research.
If we are going to rate every area in science,and decide which deserve funding or not,this will most likely be the longest discussion ever 
Well, I'm here till I die - not that I can devote all my time to this discussion in particular but I would participate so long as it or I went on

.
So rank the research projects in terms of lowest immediate utility and line the worst the most "useless" at the chopping block.
I think there are justifications for utility that run counter-intuitive to your assertion here. Wanna back that up with some criteria? I certainly wouldn't be so quick to dump linguistics, for instance.
Funding and availability of, no doubt. Though I think we're definitely at a disadvantage in this discussion because we can't account for military and corporate R&D, which has a fair bit of declassified paranormal results, which are interesting, to say the least. They have probably thrown the most time and money at these conceived hypotheses.
Interesting point.Are you referring to the use of remote viewing and such in military tactics? Haven`t read much about that,feel free to elaborate if you can 
Well, freedom of information dictates a certain number of years until declassification so much of public record is as old as those making decisions thirty, fifty, seventy-five years ago could assure.
But a couple years ago when a group of roommates and I tried our hands at symposium to essay, where we'd have discussions and then write up an essay around the common ground (two of which I think are in the Writing Subforum), we decided that there is probably a 20/80 split. What with conspiracy theories and degrees of separation, the military research that we contemporarily know about, is probably about 20% of the military research being conducted.
This doesn't include, corporate subsidiaries of the military, which probably don't
ever have to reveal anything.
But when I have another day and more time, I will definitely regale you with some more concrete examples. I just don't feel like digging through the library right now. Busy day and such.