This is great news, I hope it can come off. What stock would it be, for hourly?
Wondering about Oxford - where P5 would be very helpful for this - could this take up the stopper to Banbury and turn there? Or take up the mantle of the rumoured Oxford- Moor St service, and do that. You'd be adding Bath and Swindon to Birmingham services too, plus a few random other pairs. While XC are still not back to full service.
EWR is an option but the stock might not work (125) and involves a whole crossing at Oxford. It's also not 'stable' yet so nobody would want to mess with it. And that aligns better to the Cowley side at Oxford. Maybe the Hanborough turnback (and wires) idea is helpful here for Bristol, especially while Botley is all drama, no build.