I have to disagree Sunny.
PPC still uses bitcoin SHA256. So PPC has a good chance of getting mined the fuck out of it.
Litecoin does still stand currently as the ONLY active alt chain that isnt using SHA-256.
It's just my observation from bitcoin's halving last November. The profitability dropped by half within days for both LTC and PPC. So my guess is that even for ltc's asic resistance it couldn't provide much of a safe harbor for gpu miners due to simple economics.
But no hard feelings, ltc still has by far the largest trading market among all altcoins. ASIC resistance may still prove useful to widen adoption, but I believe gpu miners's fate has been sealed. I could be wrong though
+1 the Bitcoin mining economy is far, far, larger then any of the alt-coins. If all the GPU miners really were to move to mining alt-coins, they would be doing so to sell for BTC. If the market is efficient, and assuming hash power is evenly distributed then the price of alt coins should skyrocket as they becoming incredibly difficult to mine. However if the hash power is not evenly distributed, which it most likely will not be- a few very large GPU mining farms + everyone else, then I would expect to see the GPU mine farms crush the price by dumping relentlessly in an attempt to pay their rent and electricity bills.
That said, most likely a fair number of miners will cut their losses, sell their equipment and upgrade to ASIC. I think very few large scale GPU miners have any interest in Alt-coins.