https://www.youtube.com/watch?v=HEPEPdRTukk
And those who are saying lolminer 1.1 is working, you are correct!
They have released a version in which 4gb cards can mine ethereum using their mining program in zombie mode.
Yes I didn't think this was possible but its actually pretty smart what they did. They are going to get great dev mining fees as a result of this since many of the 4GB cards will have no choice but to switch to lolminer. According to some statistics its estimated that around 50% of the entire network hashrate is still on 4GB GPUs. So assuming the 4GB ASICs are nil, then there is going to be tons of hashrate that will move to this miner.
Eventually later in the new year it won't make sense to mine with 4GB even with lolminer but for the first few DAGs the speed slowdown is not that drastic. I don't think ETC is going to be profitable at all. Most likely all the ETH ASICs will move to ETC as soon as they can't mine ETH anymore sometime in the next month or so.