There are alt currencies that won't be affected by ASIC. I've no idea what the profitability level is, but if you have paid-for GPUs and phenomenally inexpensive electricity (or free), then mining a scrypt-based crypto currency wouldn't be all that radical of a shift.
But with the Bitcoin difficulty rising thanks to new capacity from FPGAs coming online, the day may come that GPUs are no longer good for bitcoin mining even before the ASICs ship. Fortunately the incease in the exchange rate has more than exceeded the rise in difficulty, but it could be that difficulty will rise even faster going forward.
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http://blockchain.info/charts/miners-operating-profit-marginI'm looking at those, and will definitively be doing a serious evaluation when the market reshapes with GPU exile. I do confess having major trouble deciding on which to consider, or to pull the trigger at all.
At least at 5.4¢, my electricity will allow me to hold out far into the fall of GPU mining. Hell, I might even hold out a while more over cost just because I find exchanges that much of a pain...
Sell it to others who want to do bitcoin mining on a much smaller and much much less profitable scale.
aka just dumping them on eBay.
I like my rig, I'll piece it out if it comes to it, but I'd rather keep it around.
In previous years I would have done it, at least during downtimes, but with a student strike decimating my possible work period between semesters, I need to milk every resource possible. I've even been speeding through online surveys late at night...
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Didn't know about this particular project, bookmarking it!