David Moser wrote an essay telling people to focus more on Pinyin and not stress about characters until much later. I totally agree with him. Maybe one day the CCP will force everyone to Pinyin and I can finally read without having to look up half a sentence.
Moving everything to pinyin probably would introduce a different set of difficulties for a foreigner: while a native Chinese speaker knows the spoken language and context well enough to disambiguate homophones, it's unlikely a Chinese learner would have the same ability.
http://pinyin.info/readings/texts/moser.html