I'm a bit confused by the talk of HS2 somehow making the MML defunct
I don't think HS2 will make the MML remotely defunct, and I don't think that HS2 is to blame for the cancellation of electrification.
HS2 is just one line - it was never intended to solve everything and there will be plenty of markets unserved by it.
It'd be naive to expect a two track railway to cater to providing a direct link between London and the centre of every major conurbation. But people like to use arguments like "what will HS2 do for London to Leicester journeys" as a stick to beat it with.
The original plans for HS2 would have seen it compliment the MML, catering for a different market (Toton and Meadowhall, instead of central Derby/ Nottingham/ Sheffield), competing with the M1. By giving a "fast" service between London and the East Midlands/ South Yorkshire you've got scope for more MML services to stop at underserved station (e.g. Loughborough) or for new stations on the MML (e.g. Clay Cross), since there may be less focus on headline "fast" services on the existing network.
I think that "we cancelled MML electrification because HS2 will deliver some benefits to the region in twenty years time" is as disingenuous an excuse as "we cancelled Windermere electrification because we suddenly remembered how ugly masts would look in the Lake District" - the slippery words of dishonest politicians eager to find some justification for cutting back due to the Network Rail over-spend.
To be mildly optimistic for a moment (whilst I'm pro-electrification, I've got to accept that when the facts change, we need to change our minds)...
... we now have a chance to order MML stock that maximises platform space at St Pancras...
...we now have a chance to cascade 125mph Bombardier DMUs to Cross Country...
...we now have a chance to order sufficient new trains to accommodate desired extensions (e.g. beyond Sheffield) or enough to extend the "InterCity" level of service to some of the ex-CentralTrains services...
... we now have a chance to build a proper timetable between London and Leicester that gives Nottingham/Derby/Sheffield at least one relatively fast London service per hour whilst trying to keep the two services from running within a few minutes of each other and providing the local stations south of Leicester with a fairly clock face timetable (not an easy circle to square!)...
...we now have a chance to marry the need for long London trains with something short enough to stop at short platforms (e.g. Loughborough).
It's certainly not the result that I would have wanted, but at least this gives us a fresh sheet of paper on which we can try to design a sensible MML (rather than the awkward timetable we currently have where insertion of the Corby service messed up a fairly sensible timetable that Midland Mainline had introduced).