Richard, obviously if F does not imply S due to other dangers, then one must use method 2:
P(W|F,S) = P(F|W,S)P(W|S)/P(F|S)
Let's do the math.
A comet is going to annihilate us with a probability of (1-x) (outside view) if the LHC would not destroy the Earth, but if the LHC would destroy the Earth, the probability is (1-y) (I put this change in so that it would actually have an effect on the final probability)
The LHC has an outside-view probability of failure of z, whether or not W is true
The universe has a prior probabilty w of being such that the LHC if it does not fail will annihilate us.
Then:
P(F|W,S) = 1
P(F|S) = (ywz+x(1-w)z)/(ywz+x(1-w)z+x(1-w)(1-z))
P(W|S) = (ywz)/(ywz+x(1-w)+x(1-w)(1-z))
so, P(W|F,S) = ywz/(ywz+x(1-w)z) = yw(yw+x(1-w))
I leave it as an exercise to the reader to show that there is no change in P(W|F,S) if the chance of the comet hitting depends on whether or not the LHC fails (only the relative probability of outcomes given failure matters).
Really though Richard, you should not have assumed in the first place that I was not capable of doing the math. In the future, don't expect me to bother with a demonstration.
Allan: you're right, I should have thought that through more carefully. It doesn't make your interpretation correct though...
I have really already spent much more time here today than I should have...
Recently the Large Hadron Collider was damaged by a mechanical failure. This requires the collider to be warmed up, repaired, and then cooled down again, so we're looking at a two-month delay.
Inevitably, many commenters said, "Anthropic principle! If the LHC had worked, it would have produced a black hole or strangelet or vacuum failure, and we wouldn't be here!"
This remark may be somewhat premature, since I don't think we're yet at the point in time when the LHC would have started producing collisions if not for this malfunction. However, a few weeks(?) from now, the "Anthropic!" hypothesis will start to make sense, assuming it can make sense at all. (Does this mean we can foresee executing a future probability update, but can't go ahead and update now?)
As you know, I don't spend much time worrying about the Large Hadron Collider when I've got much larger existential-risk-fish to fry. However, there's an exercise in probability theory (which I first picked up from E.T. Jaynes) along the lines of, "How many times does a coin have to come up heads before you believe the coin is fixed?" This tells you how low your prior probability is for the hypothesis. If a coin comes up heads only twice, that's definitely not a good reason to believe it's fixed, unless you already suspected from the beginning. But if it comes up heads 100 times, it's taking you too long to notice.
So - taking into account the previous cancellation of the Superconducting Supercollider (SSC) - how many times does the LHC have to fail before you'll start considering an anthropic explanation? 10? 20? 50?
After observing empirically that the LHC had failed 100 times in a row, would you endorse a policy of keeping the LHC powered up, but trying to fire it again only in the event of, say, nuclear terrorism or a global economic crash?