#1. Do we have the technology and knowledge to create dinosaurs?
Technology, no. Knowledge, we're close.
The biggest roadblocks are: 1) Incomplete genetic material. In the film, they tried to patch them. In RL, mixing reptile and amphibian DNA is a no-no. We don't yet have a machine fast enough to correctly patch a DNA strand, and until enough work is done in decoding the DNA itself, we won't know how to patch it in the first place. But, computers are getting ever faster, and DNA anyalisis is getting easier every day.
#2. Do you think that there is someone right now working to create a dinosaur?
Working, of course. Successfully? Not even close.
#3. Do you think we should create a dinosaur?
We? Who's we? Humans, as a spieces? Most of the world is either illiterate, lazy, supersticious, or just plain stupid. No. Humans as a spieces should not attempt to interact with a higher life-form.
Will it ever be done? Sure. But it will be left lonly in it's cage. Occasionally thrown a cow carcass or stabbed with needles and probes. When it dies, it will be studied, and one of the Guys In Lab Coats™ will write a book about it. Public opinion will be the same as the Dolly Case. A 6-day media sensasion followed by late-night talkshow jibes.
After a month, noöne will care. Why? They will find out that dinosaurs had feathers. The Masses won't like that. It's against what they saw on TV. TV's a powerful medium. The Populous wouldn't feel comfortable questioning it, so they will ignore the fact and go back to the drudgery that is human life.
As for moral issues...the whole "Man plays God" and "creating a threat to all mankind" B.S., screw it. Noöne but you cares about your opinion on wether pumping the stomach of a mosquito post mortum and sticking in an egg cell is going to tear asunder 200 years of scientific "truth" 2000 years of Christian "truth" or 2 million years of moral "truth." Why doesn't anyone care? Because they'd rather watch Super Size Friends and Survivor and Who Want's to Kiss a Millionare's Ass et cetra ad nauseum.
Besides, recreating dinosaurs is small potatoes.
Wait 'till the Guys In Lab Coats™ start playing mix-n-match with various species. Who says Mirri's just a character? With a little creative chemistry, we can whip up Cat Warriors by the baker's dozen.
But first, they'll make Triumph, Insult Comic Dog real.