I think it's pretty common knowledge that the contracts for the name and the content of the GMR were completely seperate, so the name change should have little to no effect. However, since this has turned into a GMR-fantasy rehab thread, since it's my favorite major attraction I have to put my two cents in LOL.
I'm fine with the updates, and removal, of major scenes, as long as the ride itself remains along the same lines and keeps the "classic" scenes in tact. Of course I am talking about the Singin' In the Rain/Mary Poppins scenes, Oz, Casablanca, etc. I don't think you'll ever see it demolished and redone as, say, a thrill ride : it serves great purpose at MGM by giving a "family" ride alternative to RnR and ToT (it's the only ride in the park many people who don't do thrill rides can actually do), and it also sucks crowds up and is super-high capacity (and could be tweaked even higher if necessary).
The western and gangster scenes work well, and still seem to impress the crowds. I hope those are left, but a few enhancements wouldn't be bad. Tarzan should be the first to go - with the exception of the Maureen O'Sullivan AA it was really pretty terribly done in the first place. It's just not even that well themed - you can see the walls. It's a shame to loose the O'Sullivan AA (it's a remarkable likeness, and it's increible how much it looks like her daughter, Mia Farrow, as well), but it's just unneccesary.
As much as it absolutely pains me to say it, Aliens should go too. When I say pains me - it REALLY does. I love that scene. You really feel as if you are on the ship, and the Alien AA's are spectaular. Problem? They have toned them down so much over the years that sometimes they don't do anything. They have taken the scare out of it. The reason I love them so much is because, like the Muppets would as AA's, for all intents and purposes they are "real", i.e. what was in the movies is exactly what is in front of you, unlike AA's of animated characters or flesh and blood people.
Next up on the chopping block should be the "horror" scene. A bunch of skelletons just isn't worth that much space.
As to what should be added, that's a whole other post. My one fantasy, though, would be a kick-butt Star Wars scene. A CLASSIC Star Wars scene, say the escape from the Death Star as they board the Falcon. Imagine seeing Obi-Wan and Darth fighting, while Han, Leia, and Luke are retreating. My God, a Carrie Fisher AA and my decision would be made : I would absolutely have to move to Orlando, LOL.
AEfx