Maybe a wee bit harsh there Huggy. Oban is indeed unlikely to rival the other major airfields, but it needn't even try to. As veteran of Scottish aviation like yourself, you'll probably agree that passengers in the west have a different set of expectation from their city cousins. LC/BA's etc. operations the aifields in the Islands have long be disrupted by weather, I recall a week at Stornoway when nothing got in or out, Islanders/West Coasters take that in there stride.
My point being that Oban being somewhat isolated in terms of air services might generate traffic in todays market that it didn't years ago when LC and others tried. Further, flights needn't originate in Oban, perhaps a few Island stops on the way might make a route more viable. Given the right support from local authorites/Government, and I don't under estimate the difficulties there as the Guv highlighted for us, it might just work.