LTC is a waste of time long term as well as all alt currencies. If you do mine it, sell it or trade for BTC immediately.
I'd probably have to disagree with you there, once ASICs force most of the GPU miners to switch out litecoin is probably where they are going to go. I dare say that once that happens it's just a matter of time before you see the adoption rate increase. Out of all the altcoins, litecoin is probably the best of them.