1) Figure out if GPU mining litecoins is indeed more efficient. And if so how much better is it.
I guess the only option is to just implement GPU miner and check how fast it runs. It is really surprising that so few people have actually tried this so far.
3) If we do want to switch, there are a ton of other questions. Can we modify scrypt params or do we need something totally different.
Maybe scrypt author can be contacted and asked about his opinion?
How far away do we do the algorithm switch? How do we get miners/pools/clients ready for the switch so that there's no downtime?
This is actually interesting. If I understand it correctly, bitcoin itself does not rule out a possible change of hashing algorithm in the future (if the need arises). Attempting this for litecoin now could be treated as some kind of rehearsal and provide a valuable experience.