I used to work at CVT and am still a regular visitor. I read G-RICH's posting and thought "common sense for a change!". Then I read Windswept's posting, and realised there really ARE some muppets around, and that Windswept is possibly a real moron and should be forgiven for posting a load of rubbish.
My understanding is that there still is a runner, and this man, company or whatever it is, has been in the background for some time. That probably means that they already know a fair bit about CVT and its economics, and if they have any sense they will run it more or less along the lines G-RICH suggests.
Regarding flying training, it doesn't matter if this can be carried out on an unlicensed aerodrome in future, because CVT will clearly be licensed, even if only FISO controllers are used. But I imagine that fully qualified ATCOs will be needed so that the ILSs can be used, otherwise CVT would be settling for being another Wellesbourne Mountford, which would be OK except there already is one nearby.
The SCRATCO rules for ATCOs (it is something like SCRATCO but the acronym doesn't look quite right) would allow an ATCO to be on duty overnight. Mind you, I can't see why the airport would need to be open between maybe 2100 and 0700, and maybe with FISO service from (say) 1800.