I know this isn't the popular opinion - but something should be done with TSI.  They've cut back the island to the point where there isn't much to do...if they are going to pour some money into it I hope they do make it a new classic.  I love the pirate thing myself - but that was long before the pirates movies came out.  POTC won me over when I was just a kid.  It's a classic in that respect.  I think they have the potential to make it something really great and I really hope they do.  
Something great as a pirate themed area vs. as is and not being improved?
I'll take pirates any day.
Think of how many people that land could suck up with a well done new island! Think of the fun things they could do - still using caves to store treasure in and keeping that aspect - while adding pirate treasure hunts (and RUM! 

 I'm not all that creative but I'm counting on them to be.