It is simply not so that one is able to compute anything, even for a completely well-defined theory (try to analytically compute the hadron spectrum from the QCD langrangian, eg. And anything having to do with gravity is going to be much more complicated). So that's why supersymmetric toy models are so useful - as many things can be computed, sometimes even exactly. This is a quite non-trivial feat and source of a lot of excitement, as well as of many conceptual insights. Whether one would ever be able to get beyond studying toy models.. I don't know, but I doubt it.
Originally Posted by tom.stoer
; but what I still do not understand in all details is how one can argue that string theory fully incorporates gravity as dynamical background independent geometry.
I don't think that anyone claims this!
Originally Posted by tom.stoer
Looking at the string theory action it uses a fixed metric in target space; there is no way how a propagating string can affect this geometry. Of course string theory contains all fixed geometries somehow, but it does not allow one to change from one to the other and to describe this via dynamical evolution. By that I mean that I cannot see how to formulate the collapse of a black hole in string theory; I cannot start with some geometry and then looks what will happen later. As far as I can see this is not due to technical problems, but due to conceptual one; I simply cannot formulate this question in the context of strings.
This is very true; at least for the on-shell formulation of string that we know. There is simply no known formulation which would allow to "compare" different backgrounds, describe tunnelings, etc, as all this would require an off-shell formulation that we don't have. Some limited toy models exist here and there, eg some insights can be gained by considering tachyon condensation, which is a model for relaxing to a ground state. Some other toy models for going off-shell are topological strings where one can identify on-shell vacua as critical points of off-shell superpotentials. AdS/CFT provides a background-independent setup in a certain sense, for a specific situation, but this also doesn't allow to address questions of vacuum selection or Calabi-Yau's, etc.
Obviously one of the major missing points in string theory is the lack of an off-shell, perhaps background independent formulation; I guess no one would contest this statement… it's hardly a point of disagreement for string physicists!
Originally Posted by tom.stoer
And if this is true gravitons ceased to exist since we a) do no longer study gravity in AdS with the help of "perturbative gravitons" but we b) we translated it to CFT where there are simply no gravitons :-)
I would say if gravitons turn out not to exist, string theory is dead (in the sense of unification with gravity); it still would be relevant for gauge theories, and describe QCD strings etc.