1) The P3 is a very, very successful design that is very good at its job - so I'm at a bit of a loss to understand the reference to the Electra.
2) Why should something based on the 748 be any better than an MPA based on the Comet, which led to the highly successful MR1, MR2, and sneaky beaky R1?
3) An off the shelf option would have been better than a "Bungling Baron Mk4" (especially if we could have fitted our own sensor suite), but nothing you've posted suggests that you have clue 1.