I still believe there is a place for Wafflepool Lite - where it is a single stratum with a limit of 500Kh/s per user & a maximum pool size of 1.5Mh/s. This could use the original Wafflepool algos & switchers & payouts without crushing the smaller coins.
What you've just described is a 3 user pool. Assuming you meant 1.5GHs instead of 1.5MHs, thats almost exactly what we're doing now (1.5GHs switches), which still can't keep up with coins under about 2-3 difficulty.