The TSA is about as useless as tits on a bull. They have no training to get the job done properly. Our resources could be better spent elsewhere. X-raying everybody or full body scanners are clearly not solving the problem. It is time to toss them out and find a better way.
Clearly we need better security than we had before, and TSA is the result of that. The fact that it isn't functioning well doesn't mean we start over, it means we identify the problem areas and work on them. While we dismantle it, who would be paying attention? A little security is better than none at all.
As long as the TSA is attempting to detect bombs and weapons, it will act as a deterrent to some. Couple that with a sterling 10% success rate the gates and at least some death and destruction can be prevented. An imperfect attempt is far superior to a perfectly ignored problem.
I think the TSA is a valuable part of airport security, and it makes people feel more secure, and second-guess any negative actions. While their ineffectiveness in the last test is definitely a disappointment, I think they should take that criticism and use it to improve their methods, rather than being taken apart altogether. It should be a learning experience to increase the safety of the citizens instead of a "whoops, guess we better quit entirely."