I was thinking that using (length of program) + (memory required to run program) as a penalty makes more sense to me than (length of program) + (size of impact). I am assuming that any program that can simulate X minds must be able to handle numbers the size of X, so it would need more than log(X) bits of memory, which makes the prior less than 2^-log(X).

I wouldn't be overly surprised if there were some other situation that breaks this idea too, but I was just posting the first thing that came to mind when I read this.