What exactly is this 'dust spam' that this 0.01BTC transaction fee "solving"?
It seems to do more harm than good because it prevents micropayment implementations such as the one bytemaster is suggesting.
I'm not aware that the network is straining under the weight of the existing transaction volume.
Anyone wishing to send a lot of transactions can already do this by sending x BTC to themselves a lot.
Someone with only one Bitcoin could send 100,000,000 transactions, which might overload the network. This isn't a good solution, though -- the vulnerability will still exist when the limit is lowered because someone will certainly be saving a bunch of Bitcoins.
A better solution would be to deprioritize transactions below 0.01 and completely drop them if there are more than 10,000 (or whatever) in the queue. Then these transactions would be slower and less reliable than other transactions, but they would work and not interfere with "real" transactions.