Hey guys, sorry for the delay in replying in this thread

Interesting discussion going on, thanks Robinson!
Going back to GzuzKryzt's question about which purpose of the challenge will not be met if someone wins:
IMO the main purpose of the challenge are to expose fraudsters - at least I'm almost certain that is why it was started. I think several other beneficial purposes exist such as supporting conventional science or perhaps exposing REAL paranormal behaviour since who wouldn't want to see that? But the guts of it is the "put up or shut up" idea.
I've been thinking about this a lot, and have approached it from a different angle. There are four possible outcomes of a test:
1) The applicant is fraudulent and the result negative. This is what has happened to date and it is achieving the purpose well.
2) The applicant is fraudulent and the result positive. This would be a disaster for the challenge since it would serve to actively encourage fraudsters - if you can beat JR, you can beat anyone! It would also badly discredit the scientific process used by JREF.
3) The applicant is genuine and the result negative. There are two possible outcomes - on one hand if it was later proved to be genuine then this would be a disaster for the challenge since it would destroy any credibility it has, and essentially "prove" the "the money isn't real" people right. On the other hand if it is never publically shown to be genuine then it may help expose fraudsters similar to (1) although not in the intended way.
4) The applicant is genuine and the result positive. There are a couple of likely outcomes of this. Firstly fraudulent people would point to the result as justification of what they do (if they can be paranormal then I can be too!). Secondly as science is likely to be able to explain what went on as part of conventional science then the challenge has achieved nothing towards exposing fraudsters at all - it will have had a significant benefit to science obviously but achieved little towards its main purpose.
I may have wandered slightly from my original post but that is what thinking aloud is all about! People that stick to one exact viewpoint religiously are exactly that - stuck!