If litecoin ever takes off (and it won't) I guarantee you will be seeing GPU and or FPGA miners. There is no such thing as a "cpu only" virtual currency. Where there is a will there is a way.
I agree with the statement 'where there is a will there is a way', however. no amount of will can make 2+2=5.
From what I have read, the algorithm for ltc cannot be done efficiently on gpu, and even if it could, it wont be faster then the cpu. That being said, if it does get done, goodbye litecoin.
I am with the camp that says ltc compliments bitcoin. bitcoin==gold, litecoin==silver. For small transactions and quick confirmations it makes alot of sense. if you want to transfer large sums of money, use bitcoin. for small transactions, use litecoin.
We have no idea where all this is going to take us, hell maybe every country will have an alt currency. chinabit, ukbit, ruc, iraqbit, etc...
Actually "GPU hostile" is misnomer. It is "small cache" hostile. For example it does abysmally on the Bulldozer chip (which has very limited L1 data cache) and last time I checked it isn't a GPU.
Looking at benchamrks scrypt needs about 32KB of L1 cache. AMD GPU have about 8K per SIMD group (16 SP). As GPU become more CPU like and GPGPU becomes more common the need for more L1 cache will grow. Eventually a GPU with 32KB+ of L1 data cache will be released and scrypt won't even blink as it is accelerated across thousands of stream processors.
Already NVidia top of the line Tesla can be configured for 48KB of L1 cache. Granted the price makes testing prohibitive but my hypothesis is that it be able to work on ~12 nonces simulataneously (i.e. a 12 core GPU). Eventually even the cheapest GPU will have enough L1 cache.
