Cosford as a venue is fine if supported by nearby Shawbury. It means running two airfields for one event, but Cosford is better suited for public access then Shawbury alone would be. There is no reason why fast pointy things cannot display at Cosford operating out of Shawbury. Cosford has its own traffic issues, but with the M54 Jn3 only 1.5 miles away and a railway stn on site, public access is as good as it gets. The achillies heel for Cosford is that it is an awfull lot of effort for a single day event. The Business model for any such event is improved ten times over for two or even three days. Traders and participant logistics are improved if transit costs are recouped by multi days trading.
The other option is a single event centrally located if the the 2014 status quo is not restored in 2016. This will be RIAT and everyone north of Watford would rightly argue that Fairford is not centrally located. Whilst it will never happen, Leeming or one of the other airfields in very close proximity to the A1 would be a better alternative. The writing on the wall is for no 'RAF' airshows, with maximum support to RIAT being the smoke and mirrors.