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Houshalter comments on Crazy Ideas Thread - Less Wrong Discussion
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You'll probably be interested in reading this: http://www.wired.com/2009/04/newtonai/ and this: http://www.radiolab.org/story/91712-limits-of-science/
The program described, Eureqa, is available online and had a free trial. I have spent a lot of time playing with it and trying it on different problems and datasets.
I don't think it could learn a theory of everything with out a lot of human help to reduce some parts of the problem. E.g. "here are a few numbers as inputs, here is a number as an output. Fit it out only using basic mathematical functions." But its a start.