You raised too many substantive questions for me to answer properly.
Although I live near Boston, I'm in the affluent burbs west of the city so I never had to experience the busing crisis. We do bus inner city kids out here to participate in the predominently white suburban schools via the Metco program.

I do not believe that $ alone are a solution nor do I believe in denial of opportunity to people because of skin color. The question is... how can we more effectively help educate the economically disadvantaged, a large proportion of whom are black?

I see vouchers to the economically disadvantaged as one tool. Forces shcools to improve or die.
I see test results as another tool to measure the effectivity of a school and its teachers.
Well funded magnet schools in the city as another. Provide an alternative way out for the scholastically inclined.
Leagalizing drugs and making drug runners less rich eliminates the attraction of that career path for inner city kids. Spend the DEA money on social support for partents with drug habits to get help.
What I do not know how to fix is the pervasive cultural malignancy in inner cities. Where a large number of parents place no value on edu for their kids. No support. And where the other kids persecute good students. Literally beat the crap out of young blacks who start succeding academically. Were I a "black leader" I'd make this a major theme.

-philw (ready to get down with his peeps and kick some)