There have been many areas where embryonic stem cells seemed to be more promising; none have yet panned out. Injecting someone with cells which are genetically of a different individual, much less cells which have already been activated for the purpose of producing a baby, seems to me to be a foolish thing on its surface, and to date clinical trials have fallen in line as the embryonic cells group and form a tumor (what one would expect to get growing an embryo without benefit of a womb.) Personally I think embryonic stem cells will be a dead end for treatments, although some breakthroughs in treating disorders without using embryonic stem cells may well result from the basic research.
If you look at my previous link, not only have embryonic stem cells been successful in animal trials in allowing rats with broken spines and paralyzed rear legs to successfully walk again using all their legs, but Geron is now starting human trials of this same treatment. Yes its not going to be at the formally approved FDA treatment level for awhile, but that's basically a matter of human level trials simply taking time to make sure there are not unexpected long term side effects.
If the tumor risk was viewed as being too serious, the FDA would not have allowed even Geron's current human trial to go forward. There were possibly some additional cysts detected in rats, but since they were benign, that's not a reason to disallow this treatment. To put things in perspective, even if there is a slightly increased risk of cancer from the treatment which Geron can't get rid of, this is still absolutely a worthwhile treatment to use for curing something like serious paralysis.