complete a Delegation Renewal Form and post it to the Steem blockchain on the first day of every quarter

This seems unnecessarily strict and not account for regional work days, holidays, downtime, etc.

How about requiring that it be posted and active for voting on the first day of the quarter, which means it could be posted at any time up to 7 days prior.

Also, I would suggest asking the projects about their plans not only to power up STEEM but also to burn STEEM. Of course, there would be no requirement to do so but burning tokens is a great way that some projects could provably demonstrate value returned to Steem, especially if the economics of the project involve external value (e.g. fiat sales of in-game items, promotion, services, etc.) used to buy the STEEM which is then burned. Power up is nice but it can also easily be powered down and dumped in the future. Burned tokens can never be sold.