These are my hopes, not my predictions:
KOMO stays with all-news. A five-year investment in ANY format is nearly unherard of these days. It almost qualifies at 'heritage.' As I've posted before, check the winter books for the past five years, and you'll notice a nice upward trend.
The home of basic radio elements? Uh, yeah. Traffic and weather every ten minutes (or seperate every ten minutes) is a cume-maker. And if I know I can depend on those reports at EVERY hour of EVERY day, I be listening more often.
Cutting costs? How about $10mil right off the top in rights fees going back to the bottom line. Maybe (again, hopes, not predictions) some of that could be invested in the product (another couple of reporters, live broadband gear in the cars, something resembling a real assignment desk, etc).
Dreyer, Hutlyer, Glasgow? You still need a decent sports staff, and that's a lot of experience. If cuts come, I would talk to Hutlyer about becomming a news anchor.
Improvements? Uh, yeah. KOMO needs to get much better at going with breaking news. The format is the structure, not the Bible. When nothing else is happening, go with the format. When ABC does a special report on, let's say, two dozen people getting gunned down in a college classroom, I humbly suggest you take the special report.
Bottom line: KOMO went all-news for a reason, and the reason is still valid. Seattle is big enough, the traffic is bad enough, the weather is unpredictable enough and the breaking news is plentiful enough to justify sticking with the format. The weaknesses are fixable. The strengths that five years of committment to the format have yielded are irreplacable.