Tom, I am quite sure we don't share the same visions here and I expect no agreement so I'll just make a short comment.
With the more general framwork I men the general contact of relating two inferred theories(as encoded by two observers), which is not necessarily sensibly described by "renormalisation" in the sense of tracetories in theory space. Thus this applies to all interactions, not just gravity.
tom.stoer said:
a theory is not represented by a point in this space but by trajectory connecting different scales (this is something like the concept of equivalence classes).
My point is that in the most general cases, I think a simple "scaling" of the theory in terms of parameter scalings just doesn't work in principle. I see the theory - theory interactions as physical. Not just an abstraction. This means that the theory space itself sort of also needs "rescaling" except that it doesn't work with the litteral SCALING of parameters. I think a more complex "translation" is needed in the general case.
I see the path in theory space as an evolution path, and this evolution process can't be described simply as a scaling process, except in special cases.
As I see it this is not ONLY a technical problem, it's a problem of how theory - theory translation is understood, and it applies to all interactions and to unification.
But here I'm formally speculative indeed, I have not seen much published on this unfortunately.
The key distinction is that normally in RG, what we scale is the energy scale where we probe, but what also needs scaling (and is completely ignored) is the energy scale of the observer! Now if everything is referring back to a scattering matrix at infinity no one is ever going to see the difference here. So there are many more things to vary in a full theory - theory translation beyond just the energy of the probe. This is why RG to me in principle is a special case. I think this may be needed to look at so solve the open issues.
/Fredrik