A Soft AC might be possible to DIRECTLY take on WLTW, which is not what Fresh is doing at the moment. But a classic hits? I would highly advise against it. CBS-FM is doing fine on its own, and competition would likely cause one (if not both) of the stations to go under due to lower ratings leading to less advertising. CBS-FM is #7 25-54 I believe according to the latest PPMs. It's good. Not great. Adding another classic hits to the mix might lessen those numbers and give the new station an even lower ranking. Besides, CBS-FM listeners are much more loyal and relate more to the music, DJs and the CBS-FM brand than most listeners are to Lite (although I will admit dropping the Lite branding in '07 for a bit seemed to turn off some people). Nevertheless, with Bill Buchner, Al Bernstein, Stephen E. and JJ Kennedy gone (as much as I miss them), it doesn't seem that the change in on-air staff has driven people to other stations.
In Philly, WOGL has been going strong for a very long time (even better than CBS-FM), and it has no competition. I think the people realize that it would be a losing battle trying to compete with WOGL, the market's heritage station. Same case I believe here in NYC with CBS-FM.
I think RXP should do something that ISN'T already being done in NYC, if indeed it does go under.