the difficulty of the work must be adjustable,
the difficulty/reward ratio must scale to the polynomial of users/work-rate to avoid sybil/"51% (31%)" attacks, and dissuade volatility during transitions
must be easily verifiable,
Primecoin uses Cunningham Chain primes - basically sequences of primes where 2x+1 is prime.
They are marginally useful with other applications on the horizon.
I could see adjusting the arbitrary rule-set - similar to the varying rulesets of cellular automata, like Conways - to further Number Theory/Game Theory/Swarm Economics at a general interdisciplinary level to be the most potentially rewarding, covering a larger swath of unknown unknowns.