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.
The do if they can't mine cheaply. some of the energy efficient algo's make a big difference in electricity costs. But if the coin is doing well, then you are right it doesn't matter - unless it is scrypt. That is hard work, costs a lot and needs plenty of ventilation, air con and work.
If something could be announced sooner rather than later, that would be helpful to the value of the coins I just bought.