I don't know whether or not the new Pan Am will ever develop to the same level as its predecessor. While deregulation has been great by truly opening up air travel to the masses, it sure would be nice to return to some of the civility that airlines like Pan Am and TWA represented in the post WWII era. Airlines like Pan Am that were so heavily dependent upon government regulation, subsidies and route allocations found themselves ill suited for the post deregulation environment. To be sure, that civility from the post WWII era was bought for a price. Air travel was within the reach of very few compared to the present, but it sure was an event.
In my mind, Pan Am will always represent that bygone time when you got dressed up in your Sunday best to fly. A time when you got served a real meal while aloft. When you were actually attended to by a "stewardess". Commercial air travel has become a process more than an event and I suppose that was the inevitable outcome of deregulation.
While I wish the newest evolution to bear the "Blue Meatball" logo all the best, I doubt they'll ever be the driving force within the industry that the original Pan Am was.