Does stem cell research hold any promise for medicine?

Does stem cell research hold any promise for medicine?

www.news.wisc.edu... Basic information about stem cell research

Does anyone has articles about any on going stem cell research that hold promise for medicine?

Makes you wonder really, if there are real medical uses for stem cells. I mean, there was this huge furor over President Bush withdrawing federal funds to do research on certain stem cells, but privately funded research is perfectly fine. I mean, if scientists really thought stem cells had a medical use, wouldn't it be privately financed up the wazoo?! I mean, think of how ridiculously wealthy a cure for alzheimers, parkinson's, etc. would make the company responsible! I don't know much about medicine, but I know enough about economics.

hm...yea, but we cannot underestimate the potential treatment of many diseases stem cell can do.

However my research shows that doctors and scientists are currently using adult stem cell to do their transplanting, while the embryonic stem cell are still under great research and study. is it true? can anyone confirm. Because all the sources i took from the net differ from each other.