Yes, that would be awesome! We need to update the old Peercoin code at least (and fix the bugs). Perhaps instead of Peercoin (or Bitcoin itself), it may make sense to rebase it on another Peercoin-based coin, at least until SLM development gets own traction. There are some Peercoin forks with updated code which may be a better base:
Novacoin (https://github.com/novacoin-project/novacoin/) and Blackcoin (https://github.com/rat4/blackcoin) are using a newer Bitcoin version as base, but I think it was 0.8 or 0.9, so it may be still a bit old.
Neucoin and Emercoin are based on the old Peercoin code / BTC 0.6, but seem to be actively developed.
The downside of this approach is that the "base coin" could be abandoned.
I will try to highlight a bit the DCrypt algorithm in the OP to attract CPU miners.