Joseph Bloch, the Greyhawk Grognard, has at least revealed the true nature of his previously announced "Project Shibboleth:" the creation of a "retro-recon" of a Gygaxian 2e, based on what we know of Gary's stated plans for such an endeavor. As someone who remembers well those articles Gygax penned in Dragon in which he laid out his plans for a new edition of AD&D, I won't deny that I'm more than a little intrigued by Joe's project. As he's proven again and again on his blog, he's a keen reader of AD&D and has probably thought more about Gygaxian 2e than anybody in our little circle of old schoolers. So, if there's any chance at all of something like this seeing the light of day, Joseph is the man to do it.
My only advice to him is this: don't take any advice from anyone in the peanut gallery, including me. Forge ahead according to your own lights; you know what you're doing far better than any of us do. The end result, even if it's not something I or anyone else will universally acclaim as a "true" successor to Gary's magnum opus, will be far, far better if you follow your muse rather than anyone else's. Good luck!