Nathaniel.dread, I'm right there with you on your points..
Here is my point of view... I look at the risk versus reward. So what are the risks? Well, DMT is already at the top of the list of illegal drugs so it's unlikely that it will be any more controlled as of the result of a poorly conducted study. There are risks to the individuals involved but similar risks exist in any study. This is why participants must come freely and be properly informed of all potential risks.
What are the rewards? They could be infinite because this is a molecule we simply do not understand. Or the rewards could be negligible. At the very least, the rewards could simply be people asking more questions and increasing awareness.
I figured there would be dissenting opinions here and I understand to a degree those opinions, but I think we ought to realize that despite our many experiences and personal research, we do not understand what is really happening when a human brain receives DMT. We all have our own ideas but no one can back it up because the research is not there.
Now there will always be risks versus rewards with any scientific study, but I believe the potential rewards greatly outweighs the risks in this case. Further, I'm sure many here have benefited from the questions asked by the movers and shakers who have covered psychedelics
... McKenna, Leary, Strassman, Watts, etc... If it wasn't for Strassman's study, I probably wouldn't have learned of DMT and DMT has lead me to some very positive realizations and changes in my life. I'm sure this has been the case wit many others.
I believe that the way we evolve as a species is to keep asking questions and looking closer for answers. Even if our questions lead to further questions, we move forward. With the right intentions, our curiosity may be one of the most important aspects of our species. And these individuals leading the way, boldly in these studies seem to have the right intentions.