Skeptico has an excellent entry comparing psychic research vs. scientific research:
In 124 years, psi research has progressed to no more than a carnival guessing game act on TV. But it’s not just that the evidence for psi has not gotten any better over the last 124 years compared with advances in science, although that is notable. The real lesson is that even if psi were real, in 124 years we still haven’t found an actual use for it – no psi communications devices, no accurate predictions of the future, no military use, nothing.
Compare that with the real world of science. We started this post with Morse code, but now I can now access computers anywhere in the world from the color screen of my small cell phone. And it all works whether you believe in it or not. Where are the equivalent unambiguously real and useful psi applications? Oh I get it: they’ll be here pretty soon. My question is – how much longer do we have to wait for some use to be made of psi before we can all agree it doesn’t exist?
Probably about the same amount of time as it’ll take Jesus to visit us once again.