The pot of cash for aircraft preservation projects is very shallow. I would rather see some money spent on the indoor preservation of examples of British aviation heritage that are currently languishing outside. Even with the best care available, large airframes stored outside will not last forever. After the sorry demise of the BA collection at Cosford last year, the goal for aircraft preservation in the UK should be an indoor facility to house a Viscount, Comet, Trident, VC-10 and BAC 1-11.
I'm afraid that any "return to flight" projects are fantasy, the Vulcan has shown that even the most widely-supported project with the highest potential for airshow interest is only marginally viable. Impressive and laudable as it is, I fear that the Vulcan project has soaked up all the lottery money for aviation preservation, that may otherwise have been channelled into longer-term projects.