Relaunch with a GPU algorithm unless a Myriadcoin style PoW setup can be achieved. Name the last successful CPU only coin...it doesn't exist (no, Bitcoin doesn't count).
There no successful coins other than bitcoin. The second largest coin is 5% of bitcoin's market cap. The third largest is 1%. It gets rapidly worse from there.
If there is ever a successful coin other than bitcoin (unclear, but maybe) it will take new approaches, not anything like any of the current alts.
Personally I don't believe hash algorithm even matters very much. By focusing on that you are getting distracted from anything that does (or at least might) matter.