The expected number of DP's is just an average.
Here's the problem though: each kangaroo on the GPU makes maybe 20 hops per second. It is going to take a very long time (e.g. 2^28 / 20 seconds) before a DP actually represents ~2^28 points.
This is why zielar's run is taking so long (barring any bugs). They have many DPs but the average walk is far less than 2^28.
To find the optimal DP bits you need to consider your total MKeys/sec, the number of kangaroos, and the number of hops each kangaroo can make per second.
Also full disclosure: I have been working on puzzle 110 since March 31st using my own implementation but will probably not finish by Sunday.