Embryonic stem-cell researchers are prone to touting the potential of their work to treat all sorts of ailments, from diabetes to Parkinson's disease. Don't bet on it, says James Sherley, a stem-cell specialist himself, who has become a notable heretic in the field. Dr. Sherley, who's embroiled in a tenure battle at the Massachusetts Institute of Technology, believes destroying a human embryo to extract stem cells is unethical. So he's chosen to work only with adult stem cells. But he says his skepticism about the therapeutic value of embryonic stem cells is rooted in science. The 49-year-old MIT associate professor,...