Could you explain a little more about why you need a slower algorithm? How is anyone going to crack a well-salted SHA1 password?
2800M/s SHA1 hashes on a ATI HD 7970.
vs
http://stackoverflow.com/questions/11298184/about-how-fast-c...
PBKDF2 is still very much harder to crack then SHA1 with any reasonable length of salt.
http://en.wikipedia.org/wiki/Scrypt
It comes down to this: Why use something which is designed for speed like hashes to do something that can be broken by highspeed guessing?
Perhaps you have hundreds of millions of users? The slower your hash algorithm the more resources it takes to run it.
While you may use better passwords than this, it's certain that some of your users do not.