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The lecturers at the University of Sydney at least are happy to acknowledge their ignorance and problems with successful theories. The answer of "I don't know" isn't uncommon during and after lectures when the smarter students asks tricky questions.
Perhaps attitudes have changed. There seems to be a greater awareness of the philosophy and history of science amongst my professors. I can only say I have seen, and still do not see, evidence of the behaviour you believe to plague the lecture halls - of the arrogant professor who believes his teachings are right and unquestionable.
I doubt diverting funding from such experiments will do anything to put us amongst the stars. The funding for such projects as LIGO is a tiny compared to other national endeavours, and would do nothing to further the goal of making us a space faring species. I do not believe it is a matter of economics, but political will.
As for having the gear to investigate it properly, this is an deadlock attitude. If you don't try to create the gear to investigate it properly, then you will never get the gear to investigate it properly. Imagine if the Wright brothers said "we will wait until they have developed an engine with sufficient power/weight ratio before trying to make a heavier than air flying machine".
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