The "Glock 48 as P7" thread got me thinking. There's a lot of manufactures with legacy designs that could probably make an okay buck making and selling those guns*.
H&K has their P7, S&W has the 3rd gen autos, and so forth.
First, they would need to see their market as more collector/enthusiast, and skip trying to compete with the plastic fantastics in the police contract market. Price point would be somewhere around the 1911's $1000-1400.
Second, fit and finish would need to be spot on, with all the goodies already on- though some MIM bits would be okay.
Anyway, the P7 would probably fly off the shelves. S&W would probably need to wait a few years for the old police guns to cycle through the market, then go for various classic custom shop variations.
Just a thought.
*Colt pretty much does this already