I know this is a bit late in the game but if I could...
St. Basil's quote can apply to those who are studying for the betterment of themselves. If he was mentioning fantasy, who knows? He was fluent in all the "classics" so it is a sure thing he had read all the ancient Greek fables, which could be compared to modern fantasy, though the fables often were moral tales.
I personally think that one should be well versed in their enemy, but to be discerning in the quest to acquire that knowledge. Just as with the learning of Theology (which St. Gregory the Theologian states is not for everybody, nor simple, but for those who are purified) the person's spiritual state is important. Not everyone should attempt to learn their "enemy's" ways.
Having a lot of children, I take a middle of the road stance on it. Some things we definitely will not let our children read due to the obvious demonic intent of the author or subject matter. Others we will filter for them; translate, if you will. Some we let them discern in order to learn how to do so. We will ask questions along the way. Some things they have left alone after only reading a chapter or two, once they realized that it probably isn't something they should read. We also tell them that that kind of reading is most definitely a waste of time; they could fill their hours reading better things.
I personally think it is a waste of time to compare the various generas of fiction with our faith. It won't change a thing, nor better the reader in the way that reading the fathers or prayers would.