Geneva and Munich will be with one eye on the ski market, and Alicante maybe because of Go already flying to the better known desitination.
However, I entirely agree with LBA above. Seems to me that all BMI have done is repackaged their existing Med routes under a new low far banner and a new livery, added a few more destinations, and with the exception of some promotion and deep discounts (and lets be honest, so pretty cheap fares were available on thier Med routes before) are charging fares not much different to those available previously. Just goes to show - if you tell people its low fares and throw in a few to start the ball rolling, they'll believe its low fares they're getting.
As to the new base, I'd suspect it will be one of their existing crew bases which would avoid base set up costs and would allow them to draw full service cabin crew onto Baby ops as needed. My guesses would be Leeds/Bradford, Teesside, Glasgow or Edinburgh. LBA may be a bit too close to Baby at EMA and Easy at LPL for comfort, and could also be threatened if Stellios succeeds in moving into Finningley, so I'd suspect MME over LBA. GLA is probably a better market than EDI for low fares if they were looking to start in Scotland.
Just my thoughts...
There are old pilots and there are bold pilots, but there are no old bold pilots