I find these plans pretty interesting. A lot of the flavor of the old place is still there. The big old track with the bridges, the hillside and the creek still retains a shape around the facility for nostalgia I think it is a pretty smart design for utilizing the space available for pits, parking and camping. If they do the bull ring right they should be able to produce good racing there (especially with today's cars), something most folks said was absent from the big narrow track of the past.
This could be the smart way to do it after all. It will take money to get this done right but it would have taken a whole lot more if the track was the original configuration and building new bridges was involved. The races I've watched from WVMS (on Flo/MavTV) have not been good. What would you have had with the old track being rebuilt?
Good luck to them. Hope they pull this off right.