Well, before the release I got pretty far, and I picked tranquillity.
In case you need spike damage, there are combinations to use, like psychokinetic stream with a high capacity/ low dissipation shield generator. Use adrenaline if you really want to wreck someones day. You can also use heal items to get a bonus for a turn, and the lower cost does afford some flexibility.
So it is definitely possible, no opinion on what is better.
Note: I didn't use the new abilities from release yet. They may or may not benefit Psychosis more.