Rather than make a whole new script, why not just collabarate to improve wakaba?
For a start, a manage system that can deal with all the boards, instead of needing to log in to every single board to moderate. I know trevorsaba used this, and frankly it was a great idea, just poorly implemented. The ability to moderate and edit board options and other miscellany would be good. If you felt it was going to just become a 4chan-in-a-box, then make it so that all boards still need to be installed individually.
Another feature I would like is a wordfilter. Before all you dipshits go "OH NOEZ CAnCER" learn that a wordfilter has legitimate uses (such as cutting out all the racism people throw around, which prevents people wanting to post.)
Stickies are useful occassionally, but I think a global notice underneath the postbox can get the point across equally as well.

just my 2 cents.