I saw a 4-5 page article by Valliant on the subject a coulple of years ago online. I can't find it anymore (Now I understand why - He decided to make it into what will be a great book!) It will be a total refutation of all the nonsense (if you can actually refute the arbitrary).
Also, I am happy to find this site. The "Objectivist Singles" msn forum is adequate in some ways, but at times is overrun by everyone with any viewpoint whatsoever - including actual insults of Rand. I can take almost anything - but not THAT. I've browsed this site for about a week now, and am pleased that it is actually (strange to say), reason oriented and pro- Rand. So now I've decided to join.