It is very possible that. Indeed, that was the plan after the ATP was made and put into service, to relegate the HST to secondary work. Obviously that never happened in the end.
As for the Voyager refurb, well it'll happen eventually. Of course the current layout will be pushed as much as possible until it really, really needs doing. But I believe we shouldn't expect a Voyager refurbishment for a good few years yet, as the current interiors should still last for a fair while. Personally expecting those to happen, if they do of course, around 2019 - 2022 myself. They'll probably get new seat covers and a re-vinyl eventually (going on their past record) when they pass over to Arriva later this year, but a proper refurb is not expected for some time yet.
IEP will probably actually begin on GW as it has the oldest stock out of the IC operators (a fairly dominant fleet of HST sets over 30 years old is where I get this guess from, whereas MML have fairly new Meridians, XC has Voyagers, WC has Pendolinos and ECML has Mallard MK4s, all of the other stock is much newer than that on GW), thus will probably make the biggest impact on passengers. I'd go as far as suggesting that Paddington - Bristol will probably be the first part of GW to get the IEP, followed shortly by Paddington - South Wales.
The IEP will be tested and introduced first onto the ECML, followed by the main build being released onto the GWML and ECML to replace the HST and Class 91/MkIV which will then by 30 years old, HST being 40 by that point (2016-18). If Pendelino lengthening does not take place soon, then IEP may be introduced to WCML to increase capacity.
