Like or hate the show (and I have a love/hate thing for both the score and the original production itself), I agree with the majority here that at this time, a full scaleBroadway revival makes zero sense. At best it might run a couple of years like A Chorus Line's revival--but that was cheaper, and I think for a variety of reasons, ACL was in a better space to find a new audience than Cats would be now.
I admit though, I kinda love the cheezy, very early 80s synth orchestrations and the oh so early 80s choreography and would probably miss it... (I might miss the legwarmer heavy costumes less)
Running off of PJ's thread about the Goteborg Opera's production of WSS,the same team did an "all new" staging of Cats a few years earlier, for anyone curious. (it's not actually ALL that different in terms of concept, or anything). There are photos here:
http://en.opera.se/forestallningar/cats-2006-2007/