I am not a brain scientist myself. I think that knowing strength of connection as well as plasticity are both very important. In fact, I think that plasticity considerations are one of the main things that Penrose correctly addresses in The Emperor's New MInd. However, from a graph-theoretic and machine learning point of view, this does not strike me as intractable. Just yesterday I witnessed some new results in the connectomics project in which they can essentially (95+% accuracy on training data sets) reconstruct the wiring diagram of non-trivial volumes of a mouse brain (10^(-7) m^3) in less than 5 minutes using Gibbs sampling methods.
The current problem is getting enough resolution to make the accuracy much higher than 95%. No engineer involved with the project believes this will be difficult to accomplish in a ~10 year time span. The next detail will be imaging at that resolution in a video of a functioning brain and they are already discussing ways to achieve this too. I agree there are some real difficulties in understanding neurotransmitter functionality. But nothing suggests it will be prohibitively difficult for engineering in the next 25 years... at least that's my opinion if we are to just brute force directly store detailed videos of neural activities at the 250 nm resolution level. If we make any breakthrough whatsoever about abstraction and principles in neural physics that allow us to discard some of that brute force data resolution, it will only make the problem easier and less expensive.
(95+% accuracy on training data sets)
I have only very limited knowledge in this area, so I could be misreading you. But doesn't "in training data sets" mean that the process had been developed using that specific data? That could mean that you have a program really good at reconstructing that piece of mouse brain, but not at reconstructing mouse brain in general. We had this problem in the last research project I worked on, where we'd use a gene expression data set to predict mood in bipolar subjects. We had to test the predictions on a separa...
Here's a great article by Paul Allen about why the singularity won't happen anytime soon. Basically a lot of the things we do are just not amenable to awesome looking exponential graphs.