I don't know if recyling the sequences to the front page is the solution, but you do have some valid points.
It would be nice if some kind of sequence "book-club" functionality existed within the LW platform that enabled people to form reading groups, depending on how far along they were with their readings, and engage in fresh active discussion.
On the other hand, the sequences will likely be distilled into book format in the near future, according to the SIAI website, so there might not be much incentive to do anything about them at this point.
Given that
1. Deciding to read and actually reading the sequences is 'work'
2. Reading the latest frontpaged article on LessWrong is 'fun'
3. We frequently have gaps in the posting rate of articles that make it to the front page
4. There are many people who joined this community after the sequences were written and haven't gone through all of them
...would it make sense to start bringing articles from the sequences to the front page, either at a set pace or whenever there is a gap in posting?
I have actually read most of the sequences, but wouldn't mind going through them once again. However, taking it up as a project seems like too much work. By bringing an article to the front page, either with the old comment thread or with a fresh one (plus a reference to the old one), it becomes something that the community is doing. Following things that a group you belong to is doing is fun. But for that to happen, we need to share a common pointer to which article is 'the one we are reading now'. Hence, the front page.
In short, I think if people in this community reading (and re-reading) more of the sequences is something we want, then recycling them through the front page is also a good idea.
If the barrier is implementation modifications needed, I may be able to assist.