All this does is show that the dilemma must have a flaw somewhere, but it doesn't explicitly show that flaw. The same problem occurs with finding the flaws in proposed perpeptual motion machines, you know there must be a flaw somewhere, but it's often tricky to find it.
I think the flaw in Pascal's wager is allowing "Heaven" to have infinite utility. Unbounded utilities, fine; infinite utilities, no.
It has been claimed on this site that the fundamental question of rationality is "What do you believe, and why do you believe it?".
A good question it is, but I claim there is another of equal importance. I ask you, Less Wrong...
What are you doing?
And why are you doing it?