I think you make some solid points, Jeff. Simplicity may be the key (although I would question what happens when the system stops working, as systems are sometimes known to do). Personally, "analysis paralysis" has been one of my biggest struggles as a trader.
Another other side of the coin, however, has to do with all the scammers (a la "American Greed" on CNBC, which I keep citing). In _Search Engine Optimization for Dummies_, Peter Kent writes something to this effect near the end of the 5th edition: "over 80% of the SEO industry is fraud. There, I said it." Same goes for the financial industry: advisors, newsletters, educational services, and fund managers. You almost do need to be educated rather than ignorant to navigate this minefield if only to determine what is likely truth and what is likely scam.
I would even go one step further and claim this to be a matter of critical thinking. Educated people tend to think critically before accepting new information more than ignorant, uneducated individuals do. Many of the scams out there succeed not because of their overwhelming brilliance but rather because their victims develop a trust (this plays into marketing and psychology) and literally never think to critically analyze the premises.
