As a young, relatively unexperienced magician who is selling his own magic at the moment, I don't know if I fall into your shit-list category or not - but I thought I'd add to this post anyway.
First off, I'm with you 100% of the way in what those three tricks are in terms of magic. Practically all of Vernons magic was beautiful, and genuinely magical. STS however, isn't so much. It's not one of those "Hey everyone gather round and watch this!" tricks. It's just a bit of on the spur fun magic. But like you said, it has its place in the magic world.
Magic is a dying artform I have to agree. Many nights have been spent discussing such matters with fellow mages, all these people who want to be the next *insert idol here*. That's not being a magician - that's trying to be a knock off second run copy of someone who quite probably isn't all that great.
Before I became a magician the only pros I knew of wwere David Blaine, Paul Daniels and David Copperfield. (And Alice Cooper when he's in the mood...) Yeah they're all good at what they do, but they're unique and genuinely magical.
There's no entertainment in watching some little punk kid running around thinking he's the business because he can twist his arm 360 degrees because he saw David Blaine do it.
The art form is dying yes... I am, in my own small way, trying to keep it alive, by dedicating myself to what I do, practicing long and hard and trying to be entertaining - not trying to be anyone else or using it as "Ha! Aren't I good! I can trick you!"
Stephen Fry once mentioned a theory about magic being the revenge of the nerd. Those who aren't good on the sports field etc use it instead, to impress etc.
I have to agree with that theory, but that isn't magic. That's showing off...
Magic is an entertaining art, much like singing, dancing, theatre etc. So why oh why wont people treat it like that?
Too often do I see things these days that are either sold as "You thought xyz was good? Wait till you see this!" or "Do this and really freak out your family and friends!"
Whatever happened to the good old art of performance?
I have rambled too long now, and I'm probably way off topic. But I thought I'd throw this lot into the mix anyway

You wont find much better anywhere and it's nothing - a rigmarole with a few bits of paper and lots of spiel. That is Mentalism
Tony Corinda