Aero Mad,
Unfortunately what I see is many of the people who have a desire for Plymouth to remain open, people who have history at the airport that is, are allowing their 'loyalty' and 'desires' to blind their judgement on what is realistic.
Viable - isn't. A businessman who rarely used the airport has seen an opportunity and is doing exactly that with Viable. Collecting money, wasting it and also piping some through his own books and playing the 'glory hunter' - that's all I see there. The group will never find itself in a cash position to make their 'desires' happen, period.
I do agree, that the South West can have a busy airport that isn't Flybe dominated. But on it's current site, PLH won't be it! Sure, it could be a nice little airport with lots of prop movements or with runway extension some STOL A/C like the 146/RJ (but even most of them are near retirement!). It's a nice idea, but I'm not sure it's going to happen.