People have said--I think I have said, though I can't find it--that the Efficient Capital Markets Hypothesis will survive because there is no good counter theory and you can't trump something with nothing.
I've just started Wall Street Revalued: Imperfect Markets and Inept Central Banks, by the estimable Andrew Smithers where he claims to do just that--no, to have done just that back in 2000. Smithers graciously credits Robert Shiller with achieving the same goal by a parallel route. I'll keep you posted.
I guess the main reason I still hew to ECMH is the counsel-of-prudence aspect. When I teach basic finance to law students, I take it that at least half my job is to convince them that they aren't smart enough to outthink the market--okay, that they may be smart enough, but they are unlikely to be well enough trained, and very unlikely to be willing to give it the sitzfleisch that the job requires. So I think I'll stick to that part of ECMH, even if Smithers shows me how he can knock it in the head.