http://bitshares.org/delegated-proof-of-stake/

Delegating voting to  representatives does not address the "Nothing at stake" weakness. It simply makes it easier to collude with fewer delegates than gaining a consensus of miners. There is no electrical cost and/or equipment cost with an attack in a POS or DPOS framework.

Your fears with PoW and its current pool centralization, limited ASIC manufactures, and limited miners is valid, but what we should be addressing are these problems directly and not codifying centralization through delegates into the framework as that represents one step forward and two steps backward in time.

What we should focus on to improve bitcoin is
1) Encourage the use of decentralized p2p mining pools
2) crowdfund a company to create ASIC appliances. Would be better if the ownership of this ASIC manufacturer was controlled and owned by a large pool of bitcoin users.