ECC vs RSA, and Similar Conflicts

Hi everyone, 
I think we need to have a discussion regarding whether the API will exclusively implement (and rely on) newer, faster standards (such as ECDH, ECDSA) or whether there will be a larger dependence on RSA, either for fallback or stronger compatibility reasons.

If it is eventually decided that not only the best available per-task algorithm is implemented, but rather, all possible algorithms, where do we draw the line? Do we implement SHA1 in addition to SHA2? Does that also warrant an MD5 implementation?

Personally, I believe that focusing only on the newer, more efficient standards (such as ECC) is a better idea, but I stand very humbly by my opinion and a much more interested in listening to the group's opinions. 

Thank you,
NK