As much as I dislike SD's (and other's) abuse of the blockchain, this is a bad idea.  First, any idea that is admitted to be "temporary" should be suspected of being a bad idea.  Second, IMHO, it is philosophically wrong -- at best a band-aid for a bigger problem that needs a different solution.  Third, it's debatable whether or not this change will alter the behavior of those (ab)using the blockchain.  The motivation of gamblers is different.  I don't see how it will have any impact on them, other than to change the "dust" amount from 1 unit to 5430 units.  Those storing data in the blockchain will just move data around in units of 5430 Satoshi, rather than disposing of units of 1 Satoshi.  But fourth, I fear the technical issues have not been fully considered, and that's my main objection to this scheme...

One technical problem noted somewhere in this thread is how do you deal with change that's under the limit.  If you are a "bitcoin millionaire", it's probably not much of a problem.  If you are just starting out, it might be a significant problem.  Say you have 0.01005429 BTC to your name.  One rule says you can't spend less than 0.01.  This new rule says you can't spend between 0.01000000 and 0.01005428.  (I haven't looked at the code.  Does the client fail?  Are you forced to overpay the recipient?  Are you forced to pay your change as part of your "fee"?)

If you overpay the recipient, I suspect there are some automated systems that either (1) won't accept the payment or (2) might attempt to send your change back.  You are requiring modification to any such automated system that now exists.  You are also requiring modification to every other standard bitcoin client (else some transactions that used to go through will not go through).  And you are requiring potential modification to every application that generates its own transactions.  This proposed modification has consequences far beyond the official Satoshi client, and as far as I can tell, there has been no general solicitation of comments.

Similarly, what if you have one account with just slightly more funds than needed for a transaction.  Does the client automatically choose a second account to make sure the change is at least 5430 Satoshis?  I thought one of the goals of the client was to avoid mixing payment sources as much as possible to maintain some "privacy".  Although this shouldn't happen often, if you are dealing with random amounts between a bitcent or two, it seems this would occur about 1 in 300 such transactions.  (Again, not a problem for "bitcoin millionaires", but a potential problem for those just starting out.)

Another technical problem noted (but dismissed as irrelevant by some developers) is the increased window for double-spends.  Deny it if you want, but when each mining pool (and each full node) can choose parameters to decide whether or not a transaction is to be relayed, I think the surface area for double-spends has increased significantly.

Related to the above is the question of a node's "banscore".  I haven't examined the code.  If node B receives a transaction from node A, which node B thinks is non-standard, does node B bump node A's banscore?  I won't speculate on the implications until I look at the code, because this might be a red herring.

Finally, in many respects, you are trying to achieve results similar to that of a "5430 to 1 reverse stock split".  Of course, I'm not actually proposing this!  But some of the things corporations and stock exchanges go through when handling a reverse stock split might be considered in handling this proposed change.  Do you want to consider making every transaction output a multiple of 5430 Satoshis?  If it were a more round number, such as 5000 Satoshis, this might actually make sense.  For your very small "stockholders", the way I see it, you are changing the value of very small balances from "economically unspendable" to "practically unspendable".  To avoid a perceived hit in public confidence, the Bitcoin Foundation should send up to 5429 Satoshis to every address now containing 1 Satoshi of "dust".  (Or whatever amount is necessary to bring every address up to the minimum spendable amount.)