Being forced to start from scratch seems a real shame. TrueCrypt as it is, is a reasonably stable and mature piece of technology. Far better to swap out the broken/substandard bits than start solving a fundamentally hard problem all over again from step one.
There is no guarantee that a rewrite would be better than the original. And it will take man-years worth of effort to get even to where TrueCrypt is right now.
It's not always easier to swap out broken/substandard bits than to start over again with the original as a reference. In the opinion of this particular Truecrypt developer, in this particular case it would not be.
There is no guarantee that a rewrite would be better than the original. And it will take man-years worth of effort to get even to where TrueCrypt is right now.