There is a rumore that Ilum will be rivived sometime in early 2013 with an event focused around the battle grounds. the rumor also states that the battle grounds will be redesigned.
Ofcourse this is just rumor, we'll all have to wait and see. Unfortunately, even if this is true we will run into the same problmes as when Ilum was alive and well. more that 20 players in one area will mess up FPS pretty good. Still though, I'd take a lesser FPS to slaughter people on Ilum again.
PvPers need some love, there is really a lot of people who will come back to the game with more Opvp options. Hope that rumor become true