The reasons why the neural network model failed and Bayesian inference is much more applicable are described very well by Jeff Hawkins in his book "On Intellige

The reasons why the neural network model failed and Bayesian inference is much more applicable are described very well by Jeff Hawkins in his book "On Intelligence" (http://onintelligence.com/ http://onintelligence.com/). I highly recommend it, if just for the the questions and trains of thoughts it raises.