If the moon shot is such a great idea, let's let the EU design and finance the project and we in the US can reap the benefits of the spin-off technologies.
The question is not whether going back to the moon will generate new technologies. It will. The question is whether we would be better off putting the money into the technology directly and foregoing the mission to the moon. If that's a bit too extreme, let's design the mission, materials and all, then just transfer the technology and forget the mission. If actually flying the mission is going to pay such high dividends, surely other countries will jump to do it.
As far as the moon having new minerals and riches just waiting to be discovered, all I can say is that there has been no real indication of it on the previous missions.
Hey, I am a professional science geek myself, but I feel a lot of scientific research is in an innovation black hole owing to the inefficient "old boy" network I once saw a decent grant proposal from one of my coworkers rejected with a statement that essentially said, "We know everybody who is somebody in this field, and we don't know you, so you can't know what you are doing and therefore we won't fund your project." I'd be highly surprised if NASA is much better. In the old days they were looking for true innovation, but there are too many big hogs at the trough now.
Sorry this is wondering off topic, but I'd be willing to bet a crate of Atomic City Mercury capsules that we don't establish anything like a moon base anytime in this century. I'll be surprised if the US ever goes back. Personally, I'm ambivalent. On the gut level, I love big, powerful things like Saturn Vs; on the intellectual level I am dubious that it will yield any technology not available from cheaper sources, and as an individual taxpayer, I suspect I may get more personal bang for my buck designing and shooting model rockets in the field across from my house.