I love Boeings but this is a dream. Present Boeing management does not have the guts to build this aeroplane. They are too concerned with corporate relocations, diversifying into "aviation related areas" and keeping the shareholders happy.
Boeing has lost the focus on building aeroplanes. They started to slide when they produced the 737-300 as a low risk way of upgrading the early 737. Despite its sales success (it being at that time the only game in town)it was rubbish when they designed the aeroplane and, in realty, it still is. Their timid approach to improving their products is what allowed Airbus to penetrate the original Boeing market strongholds.
The reality of the market is that it is 99% cost driven, passengers expect to get something concrete to justify higher ticket prices. To people with money Concorde was (is) worth paying for. The miniscule improvements in BLOCK TIME as opposed to FLIGHT TIME which this aircraft could provide will not justify a premium ticket price.
The high speed 747 would make as much sense if adequate engine efficiency gains can be achieved. The development costs would be less and there would be a significant efficiency and speed improvement over the present aeroplane.