There is no way to know what information clients will need in the future, so it is better to not try and guess. I have no problems with a chatty client.
A good example of this is the Google APIs. Sure when you open up the godoc for the google-api-clients it seems needlessly verbose, but I have found the patterns sane and much better than making another layer of pointless abstraction.
By exposing Objects instead of your schema, your API has less chance to be updated as frequently, since its internal data storage is separated from its public API.
For the same reason, it is a bad practice to have multiple applications reading and writing data directly in your database. Building an Endpoint based API on top of your database and sharing this API across your clients is a better option.
Building an API directly on top of a database schema also brings the problem of impedance mismatch in all your client's applications: http://en.wikipedia.org/wiki/Object-relational_impedance_mis...
The problems here have nothing to do with the fact that the API might be chatty.
If you create an endpoint (object) based API, you will be able to modify it the way you like, and if you change your data storage, your client's applications won't even know that you modified your internal databases.
EDIT Please keep in mind that my comments are only valid if you are building an API that you will have to maintain on a long term basis. Otherwise, this project is great... like I said in another comment, I'll probably use it for simple "build and forget" projects.
Here, I see it looking a bit like this:
$ make db
$ make onboard_data
$ make generate_rest
$ make client_bindings
$ make clients
$ make tests && make release
I see nothing wrong with a properly managed project perpetuating this set of commands through multiple versions..