I came across this forum while surfing, so I'd like to jump in with my criticisms of Randi's challenge.
First of all,
the prize is NOT a million dollars; it's a bond, but, as far as I know, Randi has never said who issued it. If it's a defunct company like Enron, then the bond will be worthless.
Second, and in line with what many people say,
he has a biased agenda, and this will color any analysis.
The second point leads to the third, namely, that
the rules don't make sense and are prejudicial to the applicant. The rules say that no scientific judging is necessary, the Foundation gets to use the data freely, and the applicant gives up all legal rights - even if the Foundation has done him wrong. IOW, he will always have the upper hand in debunking any applicant's claim.
Last, but certainly not least,
consider how Randi responds to those who raise uncomfortable questions or disagree with him. From just a brief perusal of this page, it seems that Randi wants to show that, even if dowsers can find water, it doesn't matter because there's lots of water underground. IOW, if they succeed, they still fail.