(Psi)SeveredHead
Adventurer
1) Metapsionic feats have a power point cost.
2) Metamagic feats have a spell level cost.
3) You can use a metapsionic feat on a spell-like ability, even at will, no limit.
4) You can't use a metamagic feat on a spell-like ability.
Wrong. Take a look at the Phoenix, and take a look at Quicken Spell-like Ability in the Dragon MM1 entry, and in the MM2.
5) You don't need power points to use a metapsionic feat on a spell-like ability, even at will, no limit.
Yup.
6) You can't use a metamagic feat on a spell-like ability.
Wrong. Look at the point I made for #4. There is no reason why you couldn't have a feat called Empower Spell-like Ability or Maximize Spell-like Ability. The precedent already exists. Again, look at the Phoenix for MM2.
And the Cerebrilith does qualify for Quicken Power. It doesn't have to pay any cost.
The balor can qualify for Quicken Spell-like Ability.
In practice, a blue with psion levels will be more powerful than, say, a drow with wizard levels, but
#1: It isn't a big deal.
#2: Who cares?