So I realise this is an old forum but I have been reading through it and as someone who uses the line often I have some points to make.
Firstly, in regards to AC/DC switchovers at Basingstoke, I think this is what is going to end up happening. If all trains we're made to stop here (which most of them do anyway) then they could all do the changeover whilst waiting in the platform which is probably the best idea. As for freight trains, well they could have a siding just out of the station maybe where they could make the change but I feel that we are looking at them changing whilst on the move.
Secondly, we all talk about the changeover at Basingstoke, but what about at the other end? Southampton Central looks like a good candidate, but then think of the logistics of it for a London to Weymouth train. London to Basingstoke on 3rd rail, then Basingstoke to Southampton (on a relatively short stretch of the journey) on OHLE and then Southampton to Weymouth on 3rd rail. This seems ridiculous surley, especially if you factor in the cost of fitting the pantograph to the 444s/450s. This electric spine might have to happen as the start of a wider scheme to convert the 3rd rail system.
Also, if we are just talking about electrifiying the West of England Main Line, a changeover at Andover and Romsey would easily be the best solution. All trains stop at Andover so the 3rd rail would get there from Basingstoke and a nice, comfortable changeover in a two track simple station would occur at a standstill. Same for Romsey, but the electrification would come from Redbridge and Eastleigh. If we arent ever going to electrify this line, bi mode units are the way to go once the 158/9's need replacing.
Trains from Waterloo to Exeter are very well patronised and I see no point in leaving these lines unelectrified. On a countrywide scale this line is relatively insignificant but from a local point of view it is essential, as with many other secondary and rural lines. I think it would need to be OHLE, as it would meet up with the (eventual, one hopes) OHLE from Newbury at Exeter. Rail electrification probably one of the most important things to in rail today. Living in the far southwest I do see the money lavished on the southeast and the north. Heck, when the GWML electrification was annouced, we we,re still going to have HST's. The Class 802's were only an afterthought. And to get rid of the Pacers, we are just going to get displaced 150's from Bristol, which is not the best solution. In 10 years time, all the Sprinters will be near life expired and the railway is going to have to spend millions upon millions in either buying new diesel trains (which is stupid in my opinion), mass electrification and new stock, or (like the north) bi mode units. In my opinion, we need to stop procrastinating and get on with stringing up those wires.