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The Slayer update is confirmed to be released with Menaphos and for such a big update as they hype it to be, i think they are fairly certain, they won't cancel it.
Regarding the xp-rates, i would love to see either a buff to all slayer xp from all monsters, but only if you have achieved 99 slayer. That way, progression would be faster from 99 to 120, but 99 would still take the normal amount of time. I would expect an increase by 100% to 200% in slayer xp. Another way would be to introduce several new mobs at/over level 99 with very good rates, like 5 times the average xp below 99. This would however lead to skipping the lower tasks to only obtain high experience tasks.
I don't want to delve on the possibility of xp-rates similar to the current level, because I think they are too low and then newer monsters would serve no real purpose.
Regarding the difficulty, I hope they will bring in new monsters both difficult and rewarding, preferrably not both at once. I would also love to see the return of monsters you need to use special equipment at, similar to Kurasks.
Final point: I know many players, who have already achieved 120 slayer will complain about the update when it hits, simply because the xp-rates will need to change, buth as everybody will tell you, you chose to go to 120 knowing there was no benefit, and you still get new content, which should offer some early money-making methods.
Setting up a new infrastructure/servers, splitting up teams/hiring new developers, even searching for an old version of the game from that time around would cost a lot of money initially as well as over time. It would also mean that we had three (four with DMM, although separated) economies generating money to buy bonds for example. It would be possible to simply not have the game interact with the other versions still.
The main issue which will be the doom of this operation will be a too low player base, similar to Dmm, which is only working because the game is essentially equal to OldSchool anyways.
Lastly speaking of returning players, maybe some would return and eventually get into the other versions, but most will simply leave after some time and the game will disappear similar to DarScape, which was essentially what you are asking for except PvP.
I hope that answers most parts mentioned, in my opinion EoC has evolved past the old versions of the game and is in a pretty good place, with the exception of the sometimes low market values of items like whips, Nevertheless I think many ppl would enjoy this version of the game if they just tried it.