I'm inclining to agree with Adam that the biggest problem with bitcoin is the core devs, and that the best course of action for Counterparty is to expect nothing from them, except perhaps deliberate obstructiveness, and move to considering Litecoin, or some other faster blockchain without the baggage of these guys. I don't see much constructive development from them over the last year in comparison to what the Counterparty devs have acheived in a few weeks anyway. They seem a lot more like traffic cops than devs on any open source project I've come across.
If Counterparty is on top on Litecoin, would that mean IPO/Betting/CFD settlements will happen in LTC?
If so thats really sucks. People want to use BTC, not litecoin, freicoin or whatevercoin.
Without BTC as the backbone of the value exchange that happens within Counterparty, Counterparty will dramaticly lose its appeal.
People want to use BTC now, because they have no idea of what will be available in the future. I'd say it's just the opposite. Without Counterparty, BTC will dramatically lose its appeal!
By the way, even if there is some compromise reached on this issue, can you imagine having to work with Luke forever?