Would be interesting to see the math on the cost of converting it to a freighter, but i would think the efficiency of the 777 even in freighter standards would make more sense then 4 engines.
I think Airbus is stalling as long as they can to see where the market takes the 380. Think about it, huge growth coming especially in the Asian region, and as we know, governments around the world are always in "reaction mode" so airport expansion in regards to runways/slots etc wont match growth for some time. Maybe there is a hope for a few more orders especially if they can pitch a a 380neo option, maybe add a few rows but with the a350 doing well and the 7X due soon, it'll be tough to sell 4 engines.
I remember back when Singapore first tookoff their a380 maiden flight, everyone was amazed at how many seats the a380 could carry, what most forgot is that airlines make very little on economy seats. WOuld be interesting to see what Emirates does regarding their 10 year maintenance costs....