THIS is perfect, it reclaims some of what SW has lost, but adds it back with a twist. I've always wanted SW to get a spinning coaster since Gazza posted his design a few years back.
Also their new function area would be able to be even bigger with the arcade presumably moving out.
You said there's potential for new flat rides. Two flat rides I've always wanted to see at SW is an S&S Screamin' Swing because I've always thought of it more as a Family thrill and would give a good sensation. Plus a drop tower because it would give such a good view of the area, but with a twist, something like Falcon's Fury so it has a point of difference.
A nighttime spectacular would be great as well, something like World Of Colour or the Bellagio Fountain. Obviously lowering them during the day for the show is the only obstacle.
One thing I've always wondered if anyone can answer this for me, with the reclaimed land in the lake is the potential for a return of the ski show ever possible?