The flaw in the OP’s argument is in point 3. Light does not have mass, but is affected by gravity. The other four points are essentially correct. Hawking radiation is negligible, and the accretion disk of a black hole isn’t really the hole itself, so it’s correct to say that we can’t see a black hole.
As for point 3, though, even Newtonian gravity allows massless objects to be affected by gravity. You take Newton’s two great equations, force due to gravity, and motion due to force. F = GMm/r[sup]2[/sup], and F = ma (G is Newton’s constant, M is the mass of (in this case) the black hole, m is the mass of the particle we’re dropping in, and a is the acceleration of the particle). You’ll notice that this means that a = GM/r[sup]2[/sup]: All particles falling in have the same acceleration, regardless of the particle’s mass. Now, true, you can’t really cancel out the m if m = 0, but it would make a mighty peculiar theory if a particle with zero mass behaved completely differently from a particle with really teeny tiny mass. So we conclude that, even in Newton’s theory, light should be affected by gravity.
It so happens that if you do the problem the right way, using General Relativity, you find that light is affected even more strongly by gravity. When Einstein and Eddington went to watch that solar eclipse, they weren’t interested in seeing whether the Sun’s gravity would bend starlight, they wanted to see how much it was bent.
As for photons producing (not just reacting to) gravity: A single photon does not have mass, but two or more photons do, so long as they’re not travelling in exactly the same direction. If we have a box full of electrons and positrons, and we let them all annihilate so that we have a box full of gamma rays instead, the total mass of the box is still the same. Photons do add to the “mass” of the Universe, although at present, that contribution is negligible (about 10[sup]-5[/sup] times the contribution from massive particles, as I recall). eburacum45, what you say is in fact an oversimplification, but it’s essentially correct.