I think Individual RESPs are great! I wouldn't worry too much about your daughter not going to college. RESP money can be used for university, college, trade school, and pretty much any other vocational school that is certified by your education ministry. I would be willing to bet that most people would spend money on at least some form of higher education.
Worst case scenario you fold it into your RRSP and pay the government CESG back.
The only real opinion I have from a financial perspective is that your kid comes after you. In other words, make sure you are saving and meeting your own financial goals before contributing to an RESP. I say this as someone who had to pay their own way through university as my parents didn't provide any financial assistance to me. It was doable working a part-time job, watching my expenses, winning a few achievement scholarships, and working full time in the summer. I didn't ever go into debt and I didn't get financial help from the government either because my parents made too much money.
