The best thing Legends has going for it, other than a format monopoly in the market right now, is that there aren't many candidates among the full-market-coverage FMs that are hurting enough to make a serious run at classic hits radio. I don't see Legends getting an immediate challenger from among the bigger signal stations in town simply because of cost and the slack economy, although down the road in better times a year or two from now that could well change. And another lower power or rimshot signal could never make it pay. Even a year or two down the road, there's only one obvious candidate for change.
First there's the cost of doing it right. It's a format that needs strong personalities in every daypart from morning to midnight to really reach its potential (which is big when it's done well)...so that means while the rewards for success are great, the up-front costs are higher than most other music formats as well.
Second, who's really in trouble right now? Most of the full-market commercial FMs are doing reasonably well. Can't see either the Bee, which is a perennial contender for overall market lead; Fox, which just hired Wease; CMF, which is down but far from out; PXY, which is format leader in CHR; Buzz, which is doing OK in its AAA/classic rock hybrid approach; or Warm 101.3, which has soft rock and pop to itself, making a format flip. Also, forget any of the weaker signal stations like Fickle, Zone, JZR or Kiss doing anything that would up their budgets. Meanwhile WDKX, despite its weaker signal, is nevertheless a market leader and king of 12-34 listening in the market; the only thing that would help them do even better is a bigger signal footprint for what they already do well (and if they had that 50 KW signal, they could probably be #1 in the market in their own right, but that's another story).
That pretty much leaves Drive 100.5, which could use that 50 kW signal to a lot better advantage as a personality full-service classic hits station, a revival of what it used to be as WVOR back in the day, as compared to the nondescript canned format it's running now. Let's suppose for the moment that Clear Channel keeps the 100.5 facility in its portfolio and doesn't sell it to the Langstons or anyone else in the next year or two. They're parking the heritage WVOR call in Canandaigua at present. No inside knowledge here, but it wouldn't shock me if one day, as the economy starts to turn brighter, they bring those call letters home to Rochester and to the place on the dial where they started in order to renew the brand which once stood for personality full-service radio with a heavy gold-based music library. But that's probably a story for 2010 or 2011. Legends probably has the classic hits format all to itself for at least another 18 to 24 months, maybe longer.