I think month is enough to come up with some solution. It doesn't need to be perfect but it need to be done now. We can always make another fork in 1-2 months to tweak some parameters. I think it's better than dropping to 0.0001.

And one important thing. People doesn't care about mining algorithm, premine or instamine. Only thing that matter is price. Price increase will result in steady increase of miners and investors.