Fair enough, but you can also tweak the shooting schedule. You don't have to shoot every episode within the bounds of a single week. If you know that you want to do a big battle in episode 12 that's going to take a long time to shoot, you can either add a week of shooting earlier in the schedule, or you can compress some of the shooting schedules for other scenes across the episode, giving you a whole spare week or more within the shooting schedule to work on this one scene. And of course you don't even need to follow the standard TV schedule, where they do 22 episodes and then take a hiatus. You could run a month or two long if necessary, or even shoot less episodes per season. A 13-ep show like Walking Dead could theoretically spend nearly a month per episode, if they could budget for that.
I think Heroes was interesting, and did some things right, but they did a lot of things wrong, and not all of them can be blames on production necessity. I think Warehouse 13 and even Haven are much better shows, on why I have to assume are far smaller budgets. I think Mortal Kombat had much better fight scenes, on what I assume was a fraction of the budget. I was rewatching Firefly recently and it was noted that it cost less to produce per episode than an episode of Angel, and yet look what craziness they managed to do with it. What's much more important is the writing, directing, acting, and producing, to make sure that the time and budget are well spent. You put Tim Kring on the show, it might be passable. You put some combination of Joss Wedon, Tim Minear, or Bryan Fuller on, with the right cast, the right concept, and enough resources to get the job done, and it's totally doable.
Like I said weeks ago, I think the best DD concept would downplay the costumed action considerably. It would be a courtroom dramedy (melancholy DD would be poison), in which he used his various gifts to act both as lawyer and investigator, figuring out the truth and then proving it in court (but all the former work done in secret). What combat would be more Covert Affairs and Person of Interest than Heroes.
As for VFX, I believe they could do "DD vision" fairly cheaply, it would be their core FX requirement, and the trick would be to figure out a "system" for it, a process that they could duplicate, and once they research it once they could reapply it easily and cheaply. I think they could manage by using some sort of rig based on the Kinect, either rigging multiple copies of them in a single rig, or building their own device that functions similarly, to "3D model" every scene they want to do this with. They could then pass that through a pre-designed digital filter to make it look pretty. It would take a lot of pre-production work to design the system, but once built, I'm thinking they could shoot a 3D scene in the same time as anything else, and post it in a fraction of the time it would take to manually 3D render every scene. Obviously the resolution on that sort of rig would be very limited, but it actually works because DD's radar vision wouldn't be precise either.
I'm thinking they could deliver this kind of shot:

Similar to how House does 3D renderings of people's insides, but in a much more streamlined manner. They could zoom in on it, circle around it, do all sorts of fun stuff. There would be a few other visual effects, but nothing too expensive.
I think enough separates him to justify it. There are dozens of lawyer shows out there, and they still do fine. This one can have a lot of elements that make those work, plus the elements of a detective show, and the occasional fight scene.
For all it's problems the radar effect from the daredevil movie wasn't bad in my opinion. If they adapted that I think it would work.
I also think you may be going in the wrong direction for what your looking for in a show. Don't use Smallville use Lois and Clark: The New Adventures of Superman. In L and C Superman spends 90% of his time as Clark he would still use his powers secretly but he'd only go into costume when it was absolutely necessary.
If the costume for Daredevil is a problem they can remove it. He looks awesome in both of these shots:


BUT I think it's important. Superman is okay not in the suit because he's a super man due to his powers even when he's normally dressed. DareDEVIL lives in HELL'S Kitchen in a costume with horns. And there's also the juxtaposition of a religious, Catholic man dressing as a devil But then again, you could make the devil theme a subtle thing in the TV show. And the colour red should be a running thing in DD (like how green is Breaking Bad's colour) considering his ties, his suit, his shades, Elektra's outfit, etc.
I think the build up to him wearing the suit (ala Man Without Fear) would be great. And he should keep the gymnast vie to his suit. Something like this would work awesomely for a poster of the Born Again arc of the show:

I like the red theme. I also think you could get past the 'skimpy' costume thought if you even have the bad guys comment on it upping the badass factor.
Bad Guy 1: Did you hear that freak in red pajamas destroyed the meth lab on 1st street. took out 15 guys on his own.
Bad Guy 2: Yeah, I heard that a cop asked him why he doesn't wear a vest, he said it would 'slow him down'.
or something like that.