Great idea! I hope it works.

However, you should post the expected release date. Is it this week? This month? Sometime this year? "When it's done"?

Also, how much disk space do you expect to use? I would not give any coin more than 20GB of my precious HDD. Even bitcoin.

I don't think you can tune the delay to achieve two goals: make it impossible for botnet to exchange information (~4*transmit time) and make it possible for slow nodes to successfully transmit a block (sometimes 200ms to geographically near location is not that unusual). Maybe there is a solution: the operation required should consume CPU cycles and cannot be precomputed - e.g. take 1 second on an average (need to define "average") CPU (or maybe varying time?). The time to respond should be consistent with hashrate and network speed. Example: take fragments a, b, c, compute N*sha256 of them, some bits of this result point to fragments d,e,f, compute M*md5 of them, and so on.