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we'd all be a lot better off if Malaysia would turn this over formally to the NTSB.
Really? On what do you base that idea? As far as I recall the NTSB is involved as is the AAIB which has an excellent reputation. None of us knows exactly what is happening and none of us is entitled to, only those involved directly in the attempt to discover what has happened are. Any information passed to the general public is done as a courtesy not as a right. Information passed to the relatives may differ in quantity but they are involved directly in what has happened and take priority over the rest of us. Some time back somebody (an official I think) said that it would be cruel to raise the hopes of the relatives by informing them of every alleged sighting of the aircraft or possible wreckage and I'm sure we would all agree - especially in view of some of the posts on here. I have my own feelings and ideas about what has happened but that is just what they are - feelings and ideas NOT facts so you won't see them posted here.
You're right, none of us are entitled to know anything, but as a member of the general public, it would kinda/sorta be nice to know if there's a rogue T7 out there somewhere. There's also a not-small matter of ongoing confidence in the worldwide air transportation system.
That said, the Malaysians have lost all credibility by releasing information and then retracting it or modifying it. Their officials are too afraid of losing their jobs, and they're tripping over each other to obfuscate and save face. Someone with some experience and professionalism needs to take over this investigation and reinstill confidence, and at least set straight several confusing data points. I nominate the NTSB, but it could just as well be the BEA, TSB or whomever has done something like this before.
The only thing about the way the Malaysians are handling things that makes any sense is the adults working behind the scenes like it this way, which may make things more confusing for the Bad Guys, whoever and wherever they are.