Here's the biggest difference I see. CBS-FM in New York is an established brand. Yeah, they screwed up, abandoned their audience and became "Jack" for a while, but they switched back...and made their old audience feel like it was because of them. They weren't gone long enough for people to stop caring.
K-Earth in L.A. has been oldies for more than 25 years and has had a consistent sound for 18 (since Drake himself consulted in '92).
But KFRC has this history of abandoning its audience. Forget from all-hits under Michael Spears to near-AOR/no disco under Les Garland to heavily urban under Gerry Cagle to The Game Zone to Magic 61....let's just deal with KFRC-FM as an oldies station since 1991: Good, but not a monster, for about 10 years...they finally click with Bobby Ocean in afternoon drive...get into the Top 5 in Arbitron...then tell him they can't pay him what they've been paying him.
The numbers begin to slide (note to management: This means the audience doesn't like you as much as before), and finally slide so much that KFRC becomes Movin'. And then...KFRC-FM comes back (based largely on the music from the Michael Spears/Les Garland era)....and no one listens. And then it's gone again...replaced by a simulcast of KCBS-AM....but continuing to use the KFRC calls (as does the abysmal "Real Oldies" on AM).
Even if you did it and did it right (which my gut tells me would involve displacing Movin' and putting KFRC-FM on 99.7 again...and Movin's numbers look too good to do that), it would take years before you convinced the market you meant it this time. You'd probably have better credibility branding it KYUU instead of KFRC (more relevance within the demo, too).
But again, I doubt anyone at CBS wants to change Movin'.
"Alice" seems to be bleeding cume and share...maybe the thing to do is to blow it up, pull the KCBS-FM calls back from Los Angeles ("Jack" doesn't really need them), and do classic hits as 97.3 CBS-FM.