First of all, I'm a big fan of the CSM. I think that they have provided CCP with valuable input in the past and will continue to provide valuable input going forward. I think they are a useful communication link between the playerbase and the developers. And I think the summits are incredibly important for fostering the relationships and improving communications between the representative body and the developers and designers at CCP.
But the minutes themselves that come out of the summits are a failure. Not just in execution, but in their conception.
Over at Jester's Trek (linking him again!) we see in the Week Thirty status update that the minutes are still not released. The summer summit was held in the end of August. Its now the beginning of December. We might actually be closer to the next summit than the last with no minutes in sight, and no promises for imminent delivery. This is an execution failure and could be addressed for future summit with procedural changes.
But as long as the concept of the minutes is to provide a blow-by-blow, line-by-line account of a week's worth of meetings, the minutes will always be a failure. The handful of nuggets of useful information that comes from the released minutes are not worth the massive effort required to produce and review them and could be imparted in many other ways without the same overhead.
Perhaps the easiest solution is for the CSM to pull those nuggets out and present them to the community in a 2-5 page document (with CCP's approval of course). Failing that, just release the damn meeting recordings although that would require someone editing them to excise the NDA parts, and editing that video would have to fall to CCP in order to decide what's NDA'd and what's not. So I think that's out.
Regardless, as it stands right now, the minutes are a failure both in concept and implementation. Either the CSM and CCP have to commit fully to completing them in their current form wholeheartedly (i.e. make stories with high stack rank in the backlogs) or come up with a new plan.