I think running Project M concurrently is a better idea regardless. Running Project M later won't save a ton of time for anyone, seeing as the people entering both won't likely be a majority. Having space inbetween matches (even if it is because the bracket is delayed) is good because everyone, including people who were eliminated, gets time to play. Even if the entire bracket is delayed, people aren't so impatient that they won't be okay with playing friendlies for a little bit. It encourages branching out and playing lots of different people.
Furthermore, having Project M concurrently won't hold up the Brawl bracket much (or any) seeing as a lot of the people in the Project M tournament will be bringing their own setup.
The only reason I bring it up is because starting the Project M tournament at 5:00PM means I probably won't be there until 4:00PM at the earliest, and it likely means it'll run pretty late. I'm fine with that, but I also wanted to get in a lot of friendlies and such after the tournament ended.
Beyond that, if we're doing a headcount for doubles to see if it's still a good idea, I am definitely up for it.