The feats for Psionics powers just add cost to the powers unlike spellcasting which adds that the spells have to be memorized at higher levels to utilize their advantages. To cast a maximized and empowered fireball would be an 8th level memorization doing 90 pts.
1. You're reffering to the maximal damage a spell can do, right (empowered damage is not maximised)?
2. Beside the fact that that metapsionic feats also require a manifester to expend psionic focus, so without psionic meditation feat, you can use metapsionic feats once every two rounds. And of course you can't use two metapsionic feats (since you cannot be twice psionicly focused at the same time) without additional 2 feats! And if having those 3 feats you can do it 1 every 2 rounds (without psionic meditation 1 every 3 rounds).
3. Energy burst deals damage to all creatures within 40ft away from manifester. You need to get all those creatures near you before manifesting energy burst.
Now look at disintegrate, a maximized disintegrate would be a 9th level spell memorized doing 204 points vs. 156 points for the equivalent manifester. This is provided that the creature fails a fortitude save. The manifester will have at least 6-10 tries at disintegrating the opponents vs. 1-2 for the spellcaster.
1. Well, a maximised disintegrate cast by 20th level caster deals 240 points of damage.
A manifester can manifest maximised disintegrate dealing 192 points of damage (using 20pp equivalent of 10.5 spell slot), or manifest a standard 40d6 disintegrate using the same number of power points.
2. A manifester in order to use 40d6 disintegrate must use 20pp (10.5 spell slot), while a wizard uses 6th level spell slot to do the same amount of damage.
3. After using all power points on those disintegrates psion can do nothing, while wizards 1st level spells (5d4+5 magic missiles) are still useful (and he didn't use them!).
Crystal Shard: This should be limited to 5 dice. It’s great to give another damage option of physical damage vs. energy damage.
Too bad it's subject to Damage Reduction.
Another thing, you must pay 20pp to get 20d6 damage of it. Hence you need to use higher level spell slot to get more damage out of 1st level power. Spells are caped because it would be highly unbalanced to let first level spell deal 10d4+10 points of damage (uncaped magic missile cast by 19th level wizard/sorcerer).
Force Screen: This should not have augmentations. A spellcaster has to have a higher level spell to get more armor class.
Augmentation is nothing more than an equivalent of a higher level spell slot. And shield stops magic missiles!
Inertial armor: This should not have augmentations either. This is double dipping compared to the spellcaster. Combined with Force Screen at 17th level, the manifester could get a 30 AC.
Check out 3rd level Greater Magic Armor from Spell Compedium and tell me how many power points must a manifester use to get that bonus?
Mind Thrust: This is the real power gem that should be limited to 5 dice. A 15th level manifester who has the empower and maximize feats could do 135 points on a failed will save. There aren’t many creatures that can take much of this kind of damage. It does a d10 per level which is well above any other damaging power without a special condition.
Beside the fact that it doesn't deal any damage on a succesful save, it's close range and it's mind affecting, so at higher levels there are lots of creatures immune to this power.
Vigor: This is the other gem of the 1st level Psionic powers and should be limited to 5 power point total for augmentation. The 25 extra hit points per use exceeds the second level spell false life which gives a d10 + 1 point per level of the caster to a maximum of 20.
To get the power of second level spell, vigor must be augmented only by 2pp. That gives 15hp compared to d10+1/level. Comperable? Yes!
Broken? No!
Ego Whip: This should cap out a 5 dice of charisma damage. It’s great against most creature that use innate spellcasting or charisma base powers.
Good power, but mind affecting with close range. Spellcasters have high will saves, so it's not as effective as it seems.
Concussion Blast: This should be limited to 7 dice. This is yet another type of damage, force, very few defenses.
1d6/2 levels? Sometimes it's worth it, but mostly it's beter to use 1d6/level powers
Swarm of Crystals: This should be limited to 7 dice.
As with crystal shard, it's subject to DR.
Energy Missile: As with Energy Ray but limited to 7 dice.
Energy Push: As with Energy Ray but limited to 7 dice.
Energy Stun: As with Energy Ray but limited to 7 dice.
3rd level powers
Energy Bolt and Energy Burst: As with Energy Ray but limited to 10 dice.
Energy Retort and Energy Wall: As with Energy Ray about different types of energy.
Why the limitation? Seriously, I don't get it. If I have to pay 15pp on 1st level energy ray to get 15d6 points of damage its just as if I'd use 8th level power, except that augmented energy ray is still treated as 1st level power so it's stopped by every glob (i.e. lesser glob of invulnerability).
Psychic Crush: This power should be at 6th where save or die spells begin.
If you happen to notice it has DC of a 1st level power, it's mind affecting and close range.
Psions don't ever feel like they have enough Power Points.
So true
Again, this assumption is wrong. Energy bolt is a 3rd level area affect attack. Yes, you do 10d6 of fire which is +1 per die and the enemies reflex save for 1/2 damage. Energy ray if it hits, does not reduce. Twin power feat would allow you for 11 PP to do 2 5d6 rays of fire that are +1 per die. If both hit, that would be 45 points of damage average. The same for the single bolt would be 45 points on an average for 10 PP if they fail their save. The average for a bolt attack by a Wizard would be 35 points. Not only are psionics better, but their averages are superior to Wizards and Sorcerers.
So twin energy ray if hits deals 10d6+10 to one target (11pp). You have to expend psionic focus. An equivalent of 11pp is a 6th level spell... hmm... chain lightning: 11d6 to one target and 5d6 to 11 secondary targets.
Again, you say I don't understand. I do understand how it works and enjoy using it only to the point that my group also enjoys playing. My character shouldn't always be the center spotlight, our group is a bunch of heroes that have banded together to stop the darkness.
If you'd understand, you wouldn't suggest capping powers

And as for being in the spotlight, try more encounters durring one day.
The problem is that the powers a character have are always equal to the newest one that the character just earned. This is against the way that DND has been based on. You begin small and end big.
Psions begin small (d6 - d10 damage), and and big (40d6, bend reality, and stuff like that).
The way I see it, the problem with psionics is that a psion can potentially create more higher-level effects per day than a sorcerer. A sorcerer gets six 9th-level spell slots, six 8th-level spell slots, and six 7th-level spell slots at 20th level, before adding bonus slots for high Charisma. A 20th-level psion who augments all his powers to 20 PP can manifest seventeen such powers, all of which are effectively equivalent to 9th-level spells, from his base PP alone.
True, but he can do 17*40d6 (disintegrate) = 680d6
Sorcerer can do: 6* 5d8 [lesser orb of X] + 6* 5d6 [Snilloc's Snowball Swaarm] + 6* 10d6 [fireball] + 6 * 15d6 [orb of X] + 6*15d6 [cone of cold] + 6* 40d6 [disintegrate] + 6* 20d6 [delayed fireball] + 6* 60d6 [empowered disintegrate] + 6* 24d6 [meteor swarm] = 1134d6 + 30d8 if I'm not mistaken.