Runway Extension
I believe that the present local BAA management would dearly love to build the full 300m runway extension, but it won't happen for years (if ever) due to the lack of funds and the huge amount of extra work which would be involved in construction. I have heard that the small hill to the North of the airfield would have to be levelled and there is doubt over whether the reservoir at Overton would infringe the new safeguard area.
A 150m extension (which is bigger than my source originally thought - see page one!) would at least ensure that Embraers could depart with a full load in wet weather. The P and J dream of flying to the States in widebodies will have to wait!
Talking of improvements to the airport, I haven't heard any mention of improving access/egress by road from the Parkhill/Oldmeldrum side. It is a total joke for much of the morning and evening.