My oppinion hardly classifies, as I am obviously biased.
But, that said, there are a lot of things to be said for this game, and the new and improved versions of it. Dont be supprised to find a LOT of people have an army (or two) stashed away in their gaming closet/den and can be teased into bring these along and start playing the game given an opportunity. Once playing on a decently "clad" table and with armies around 2k most gamers get hooked 8)
For the size of the worldwide community there is plenty of basic stuff to go round, and even with GW dropping out we could find stock to bring in new players for some time to come. Besides IF GW would drop out, there would be less issues with other suppliers filling in the need. In a pinch you could even easily work the game with 15 mm figures, and even with 25/28/30 should you not mind the rebasing. IMHO the rulessets that Rick has worked on since all still show the Warmaster DNA.
Most of the review work, the v2 armylists etc and even a basic inventory of areas that needed a rebash for WM v2 was already done by, and coordinate within the gaming community, with just very basic guidelines and support from GW (read at that moment Rick), so there is no reason why we could not proceed in that area, should we want too.
However, the current status quo works fine. As stated above, the various meta-gaming environments use slight adaptations of the basic WM engine, and as long as we have an "event" baseline of the rules we are fine.
The one things we could use more, is an exchange of players from the various groups on a more or less regular base, but that means organziing events (like the EuroGT). Waht also helps are excersizes like the play-on-forum that was done a couple of weeks ago.