As I read your design, one of the biggest problems is that to build up the infrastructure I think (and infer based of my experience with designing these kinds of systems) you are describing is that it's a massive engineering effort in and of itself. You basically end up rewriting a realtime-optimized BigTable or HBase, and that's much to much to expect of Twitter's small engineering team.
People seem to forget that scalability is a tradeoff, like any other aspect of a service. You devote an amount of resources to the problem that makes sense to your business. Despite twitter's downtimes, people don't seem to be leaving the service, despite several competitors. The service is down, but it isn't down so much that it's unusable.
For a site that's grown at such a rapid pace and has such a small engineering team, I think Twitter's scaling plan is probably very reasonable. They're growing their capacity at a rate they can afford, and a rate that they know will retain most of their userbase.