Well, I do understand every of your point except one Craig: Readings for entertainment purposes only. Shouldn't it be an ethical question? I assume that "reading" in this case is to tell people that you can talk to the dead and tell them some "recomforting" thing about them right? Or do you mean something else?
I've been a Mentalist for nearly 20 years now, been a Tarot Reader since the mid-1970s and as such I both, know the differences between what I do when I
read the cards vs. when I blow hot air up someone's kilt. It can be an entertaining experience but doing Readings is rarely a matter of "entertainment" . . . unless you're a skeptic that enjoys misusing psycho-babble, that is. Readings are very personal and can be quite emotional, this is why folks are willing to pay small fortunes to those they have learned to trust . . . and it's not extortion or exploitation on our end.
Here's One For You. . . take a look at all the Niel Scryer books now in distribution, especially Niel Scryer & Friends; you'll find numerous well known Mentalists that do legitimate Reading work; that's what the book is filled with, several of whom do nothing but Readings and so they use an alias in the book.
Another source you may check out is my FREE PDFs on Mentalism & Cold Reading, they may open your eyes a bit wider when it comes to this side of Mentalism, the side certain social-political elements are trying to suppress.
BTW. . . "Ethics" vary; Bankers for an example, think it's ethical for them to screw the public, steal their money and homes, etc. and that's just one of the "Legitimate" industries out there that display less compassion & humanity than 95% of the "Psychics" (Readers) you'll ever learn about. If it is not in your nature to take advantage of others, you won't. The reverse is also true.