I haven't decided whether the idea is good or bad yet - I haven't yet evaluated it properly.
But as far as I can tell, your objection to it is incorrect. A naive search program would have very low optimisation power by Eliezer's criteria - is there a flaw in my argument?
Essentially I agree that that particular objection is largely ineffectual. It is possible to build resource constraints into the environment if you like - though usually resource constraints are at least partly to do with the agent.
Resource constraints need to be specified somewhere. Otherwise exhaustive search (10 mins) gets one score and exhaustive search (10 years) gets another score - and the metric isn't well defined.
As every school child knows, an advanced AI can be seen as an optimisation process - something that hits a very narrow target in the space of possibilities. The Less Wrong wiki entry proposes some measure of optimisation power:
This doesn't seem a fully rigorous definition - what exactly is meant by a million random tries? Also, it measures how hard it would be to come up with that solution, but not how good that solution is. An AI that comes up with a solution that is ten thousand bits more complicated to find, but that is only a tiny bit better than the human solution, is not one to fear.
Other potential measurements could be taking any of the metrics I suggested in the reduced impact post, but used in reverse: to measure large deviations from the status quo, not small ones.
Anyway, before I reinvent the coloured wheel, I just wanted to check whether there was a fully defined agreed upon measure of optimisation power.