No to Virgin because they want to be seen as the company who run fast 'sexy' trains, not the company which runs the small lines like Derby to Crewe with 153s. I'd be very happy to see Arriva win this, and I'd be excited to see what Arriva could bring to a more confined network of IC style trains, while using their knowledge from other franchises, to operate the regional services.
Someone also mentioned that Virgin want XC back... I would love to see that happen, and I am known for saying that I don't remember half the problems XC has today, when Virgin ran it. I can't see Virgin bidding again for this. The fundamentals of Virgin Trains as a whole have changed, and I think the network has too many problems, for what Virgin want. Remember both Franchises they hold, have been run when there was not a challenge from the incumbent operator, and where there were few problems that needed to be fixed. EC already was one of the 'best' operators, and the fleet renewal had already been laid out. WC was run from BR days, and had little to really live up to.
I think it is too early to suggest who will win the EM franchise, given we don't even know if Stagecoach will bid. I'd like to see a more transparent bid, in every competition, where the people who will be using this service, know what each company wants to do, to change their commute.
EM faces a more uphill challenge, for whoever wins, because the future isn't clear with rolling stock, and infrastructure. There is never anything wrong with change, but with many hard choices coming up with the EM franchise (which are not really present on EC/WC - We know what will happen pretty much) the franchise must be kept in hands which know how to navigate a train with no clear destination.