They really do not have any room for terminal expansion or runway expansion with out some major changes in the area- one idea they had mentioned at one point was to remove all the general aviation parking to the south? of the airport- Campus/near I think Bristol- then I think move the current cargo ops down there and build an extension onto the current terminal.
As for the runway, the idea was to expand it over the 405-freeway. Have the freeway go under, the runway go over.. but I dont see that happening, especialy with the current construction- they are currently trying to make the interchange from the 405 to the 55 easier, and are building a separate ramp going from the carpool lane off to the 55... it would have to be torn down to expand the runway over and make the freeway go under. The Newport Beach residensts would fight it if they ever tried to expand that airport. They let the area around it get too built up... its time they stop wasting money on it and look elsewhere- if only ElToro would have gone thru. Hopefully the lawsuit they are planning to use to put the airport back on track later this year works out.