[henriquez]

If it's not broke, don't fix it. The underlying hasher is most important anyway. Crappy passwords will always be susceptible to rainbow attacks.

[sneak]

No, not with salt and a high enough iteration count, they won't be.

[e12e]

I think gp is a bit off - weak passwords will be vulnerable to a dictionary attack - even if reasonably salted. But won't be vulnerable to rainbow attacks in any meaningful sense (assuming sensible salt/hash/iterations).