It seems like most other commenters so far don't share my opinion, but I view the above scenario as basically equivalent to wireheading, and consequently see it as only very slightly better than the destruction of all earth-originating intelligence (assuming the AI doesn't do anything else interesting). "Affecting-the-real-world" is actually the one value I would not want to trade off (well, obviously, I'd still trade it off, but only at a prohibitively expensive rate).

I'm much more open to trading off other things, however. For example, if we could get much more easily than the successful utopia, I'd say we should go for it. What specific values are the best to throw away in the pursuit of getting something workable isn't really clear, though. While I don't agree that if we lose one, we lose them all, I'm also not sure that anything in particular can be meaningfully isolated.

Perhaps the best (meta-)value that we could trade off is "optimality" - we should consider that if we see a way to design something stable that's clearly not the best we can do, we should nonetheless go with it if it's considerably easier than better options. For example, if you see a way to specify a particular pretty good future and have the AI build that without going into some failure mode, it might be better to just use that future instead of trying to have the AI design the best possible future.