In 1994, Bob turned down the chance to host a nightly show because, first, he didn't want to host ten shows a week, and second, he thought TPiR would get overexposed being on twice a day. Once they knew they'd have to find a different host, they decided on a total revamp, and the result was the show that Doug Davidson hosted (which I actually liked, but there's a big difference of opinion there).
I doubt Bob would have changed his mind about that in the ensuing 12 years, so a new nightly version would have to have a different host. He might be more willing to do a once-a-week CBS prime time version, though, but that's just speculation on my part.
If they do launch a show with a new host, it should be the person they've identified as Bob's heir apparent on the daytime show. Jay Leno to Bob's Johnny Carson, as it were. I don't think they've found that person yet, based on the interview with Bob (posted here recently) where he said Fremantle's been looking for a new host for three years. Of course, if the new nighttime host doesn't work out (like Rolf Benirschke on Wheel), they've figured that out without damaging the version that's the real cash cow.
Given that a nighttime syndicated version hasn't been successful since the late '70's, I think they'd probably go for a weekly prime-time show rather than one like Tom Kennedy's. If they do a bigger-bucks prime time network version, I'd like to see them bring back some of the biggest winners or best players from the daytime show, since they've never had returning champions. I'd prefer a "Million Dollar Tournament of Champions" to just having, for example, a regular contestant who randomly gets to play Plinko for $100K rather than $50K.
John