Re: talking about problems in the biochemistry field in general:
I'm sure that there are lots of problems, and I don't mean to invalidate anyone's points, but on the bright side, genetic sequencing has been getting faster and cheaper FASTER than moore's law predicts. http://www.forbes.com/sites/techonomy/2012/01/12/dna-sequencing-is-now-improving-faster-than-moores-law/
We're ALMOST to the point where we do full-genome sequencing on a tumor biopsy to adjust a patient's chemo drugs. The results unfortunately haven't been reproducible yet, so it's not quite ready for clinical practice, but by golly we're close. It currently costs about $4,000 per genome, and we're less than 10 years after the Human Genome Project which was 13 years and 3 billion dollars for a single genome. One company claims its soon-to-be-released machine will do it in 4-5 days for $900.
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Intelligent people are more likely to think on the consequences when deciding to have a child. But there is a prisoner's dilemma type of situation here:
One reason smart people forego reproduction is because they might feel children make them more unhappy overall for at least the first few years (a not unreasonable assumption). Or simply because they are not religious (smart religious people do still have lots of children) As a consequence, in 20 years, the average IQ of that society will fall (bar some policy reversals encouraging eugenic breeding, or advances in genetic engineering), as only the less intelligent breed. Since, all other things equal, smarter people perform better on their jobs, the average quality of services provided in that society (both public and private) goes down. So in the end everyone becomes more unhappy (even though unhappiness of a childless smart person resulting from societal dysgenics may not outweigh the temporary unhappiness from having a child)
It doesnt follow that it has to go down. It could also stay stable. After all - all the bright people that do not reproduce have parents somewhere. So there are people produced by parents who are not in the mental cluster that prevents them from reproduction.