After much consideration I believe that with the correct strategy it is actually worth playing Satoshi dice once and only once.  It is possible to increase your initial investment by 20% if you are willing to take a 17.5% risk of loosing your entire initial investment.

If you play for an increase of 10% there is even less risk associated to playing. 

https://docs.google.com/spreadsheet/ccc?key=0AnsZR1yoh3LrdE13OXNkeHRBQ01LaDctWF9IR1N2TlE&usp=sharing

I provide a complete and detailed analysis showing that the only way you can ever win with the most advanced strategy is a combination of luck and limiting your winnings to a small percentage of your starting bet amount.