I'm an advocate of this approach in general for a number of reasons, and it's typically how I explain the idea of FAI to people without seeming like a prophet of the end times. Most of the reasons I like value-learning focus on what happens before a super-intelligence or what happens if a super-intelligence never comes into being.
I am strongly of the opinion that real world testing and real world application of theoretical results often exposes totally unanticipated flaws, and it seems like for the value-learning problem that partial/incomplete solutions are still tremendously useful. This means that progress on the value-learning problem is likely to attract lots of attention and resources and that consequently proposed solutions will be more thoroughly tested in the real world.
Some of the potential advantages:
Resources: It seems like there's a strong market incentive for understanding human preferences in the form of various recommendation engines. The ability to discern human values, even partially, translates well into any number of potentially useful applications. Symptoms of success in this type of research will almost certainly attract the investment of substantial additional resources to the problem, which is less obviously true for some of the other research directions.
Raising the sanity waterline: Machines aren't seen as competitors for social status and it's typically easier to stomach correction from a machine than from another person. The ability to share preferences with a machine and get feedback on the values those preferences relate to would potentially be an invaluable tool for introspection. It's possible that this could result in people being more rational or even more moral.
Translation: Humans have never really tried to translate human values into a form that would be comprehensible to a non-human before. Value learning is a way to give humans practice discovering/explaining their values in precise ways. This, to my mind, is preferable to the alternative approach of relying on a non-human actor to successfully guess human morality. One of my human values is for humans to have a role in shaping the future, and I'd feel much more comfortable if we got to contribute in a meaningful way to the estimate of human values held by any future super-intelligence.
Relative Difficulty: The human values problem is hard, but discovering human values from data is probably much harder than just learning/representing human values. Learning quantum mechanics is hard, but the discovery of the laws of quantum mechanics was much much more difficult. If we can get human values problem small enough to make it into a seed AI, the chances of AI friendliness increase dramatically.
I haven't taken the time here to consider in detail how the approaches outlined in your post interact with some of these advantages, but I may try and revisit them when I have the opportunity.
Epistemic status: One part quotes (informative, accurate), one part speculation (not so accurate).
One avenue towards AI safety is the construction of "moral AI" that is good at solving the problem of human preferences and values. Five FLI grants have recently been funded that pursue different lines of research on this problem.
The projects, in alphabetical order:
Techniques: Top-down design, game theory, moral philosophy
Techniques: Trying to find something better than inverse reinforcement learning, supervised learning from preference judgments
Techniques: Top-down design, obeying ethical principles/laws, learning ethical principles
Techniques: Trying to find something better than inverse reinforcement learning (differently this time), creating a mathematical framework, whatever rational metareasoning is
Techniques: Trying to identify learned moral concepts, unsupervised learning
The elephant in the room is that making judgments that always respect human preferences is nearly FAI-complete. Application of human ethics is dependent on human preferences in general, which are dependent on a model of the world and how actions impact it. Calling an action ethical also can also depend on the space of possible actions, requiring a good judgment-maker to be capable of search for good actions. Any "moral AI" we build with our current understanding is going to have to be limited and/or unsatisfactory.
Limitations might be things like judging which of two actions is "more correct" rather than finding correct actions, only taking input in terms of one paragraph-worth of words, or only producing good outputs for situations similar to some combination of trained situations.
Two of the proposals are centered on top-down construction of a system for making ethical judgments. Designing a system by hand, it's nigh-impossible to capture the subtleties of human values. Relatedly, it seems weak at generalization to novel situations, unless the specific sort of generalization has been forseen and covered. The good points of a top down approach are that it can capture things that are important, but are only a small part of the description, or are not easily identified by statistical properties. A top-down model of ethics might be used as a fail-safe, sometimes noticing when something undesirable is happening, or as a starting point for a richer learned model of human preferences.
Other proposals are inspired by inverse reinforcement learning. Inverse reinforcement learning seems like the sort of thing we want - it observes actions and infers preferences - but it's very limited. The problem of having to know a very good model of the world in order to be good at human preferences rears its head here. There are also likely unforseen technical problems in ensuring that the thing it learns is actually human preferences (rather than human foibles, or irrelevant patterns) - though this is, in part, why this research should be carried out now.
Some proposals want to take advantage of learning using neural networks, trained on peoples' actions or judgments. This sort of approach is very good at discovering patterns, but not so good at treating patterns as a consequence of underlying structure. Such a learner might be useful as a heuristic, or as a way to fill in a more complicated, specialized architecture. For this approach like the others, it seems important to make the most progress toward learning human values in a way that doesn't require a very good model of the world.