Questions about "The High Frontier"

So I just got through O'Neill's "The High Frontier". There seem to be
some philosophical inconsistencies -- O'Neill claims to be promoting
individual freedoms and small-scale economies by building monolithic
power satellites and kilometer-scale orbiting cities, for instance --
but that's neither here nor there.

What really bothers me is that the entire scheme seems too much like
something out of a Rube Goldberg cartoon. "We'll build a base on the
Moon to deliver material to Earth orbit -- and we'll need at least
some mining ships scouting the asteroids for water and organics too --
which will be used to build a 3-million ton, 10,000-man space station
the size of Manhattan; then that will build 80,000-ton satellites, and
those will transmit solar power back to Earth." (He offers other
justifications for his "Islands" -- building space telescopes, for
example -- but it seems that we've achieved most of those goals
already without them.)

I suppose I want to start off by asking, "Would a Solar Power
Satellite work in the first place?" I know that the idea has gotten a
lot of flak recently; is it still viable or just hopeless?