@JohnySid
I am getting tired of this game. You set up an OP, with, once everyone can decipher its meaning, a fairly interesting topic at its heart. You then presume to sit as arbiter on high, passing judgement on all posts. Rather than you attempting to take some sort of high ground, lets hear some definitive position statements from you.
I really dislike the use of the term materialism. Others have already explained why. V-E's use of the word naturalistic fits much better.
"You say "I don't believe moral relativism to be evil - just absurd." but if moral relativism is allowed then a group can claim that child sacrifice is good and you cannot gainsay it"
If I, or our society, dismiss MR as absurd, then that means I don't allow it. In the hypothetical scenario you describe, I could most certainly gainsay it, regardless of what the group itself claims.
Despite this, I do not like the idea of inflexible, unchallengeable universally applicable moral Truths, or the concepts of Good and Evil, come to that.
As best as I can tell, I would fall into this category, described by Wiki ( that is, if I am understanding the categories correctly )
http://en.wikipedia.org/wiki/Moral_realism