I think it will come - but only when it is absolutely forced upon them. My bet is they'll hold out for as long as possible, with a few dropped hints in carefully selected ears to keep people hopeful in the meantime, in much the same way as they've managed to keep many disaffected training captains in the training fold for years now with promises of improved packages 'soon'.
For those who say 'never': it's funny how the dynamics can change with an unexpected input from left field tipping the balance. I heard only today that lack of pilot accommodation has suddenly become an issue, and with and increase in pilot numbers of 560 planned for 2008, that could become a very important factor. I know there are empty houses out at Silicone O, but they are right on the edge of the current construction site, and would certainly present a problem for anyone working back of the clock shifts as all EK pilots do - and I think this has been recognised by the PTB. (The huge increase in Flight Attendant numbers that will accompany that increase in pilot numbers will involve a very large number of apartments being constructed for EK as well.)
If the story of a housing shortage is true, I for one would be happy to relieve that shortage in double quick time for them - and I suspect, (in fact I know), I wouldn't be the only one. I think there'd be a near stampede if an offer was tabled - but see below.
The downside to any such scheme is pretty obvious to anyone who's been in the Sandpit for any length of time. As sure as Allah made little apples, they will surely come up with an offer that will involve a huge sting in the hip pocket and/or reduced T&C's for anyone taking it. That I'd be willing to to place a very substantial wager on.