@Este the idea would be to have the reward be a factor of the mining difficulty. I'm modeling with N^1/2 to make sure Moore's law and  mining improvements don't flood the system too much.  

@Temor - yes the coin borrows heavily from work already done but the properties are significantly different. Bitcoin is a brilliant piece of work but the 21 million limit is considered by many people far smarter than me to be a problem. All other alt-coins I know of have this property or all the coins are controlled by a central group (happy to be corrected as it will save me lot of coding).