To answer your question, you can mine peercoins (around 6 per day),
to mine Namecoin you just point it to a mining pool like eligious or f2pool that mines btc and namecoin, then you will see that you get approx 0.005 btc and 0.02 NMC per day. You can then proceed to sell those btc for NMC on btc-e and you will get like 10 NMC or so depending on the exchange rate.
So no, you will not get more $ by mining other coins with a bitcoin miner, unless their value rises enough. You can however use your btc earnings to buy other altcoins if you fancy them.
You should factor in the cost of electricity and see if isn't it worth more to just sell the miner and buy yourself some coin.