I agree that making use of a lower voltage would make life a lot easier for the likes of gauge clearances for the OLE, 6.25kV would be a good one.
However I can't see it happening, it does seem a bit of a backward step, to me at least, to start stringing up the wires over the MML and GWML at a lower voltage than the rest of the currently electrified network, when one of the driving forces behind increased electrification is increased interoperability of electric traction over a greater number of routes. Remember part of the reason the Woodhead route was abandoned in the eighties was thanks to it's non standard 1500V DC power supply which was deemed too costly to upgrade to the modern 25kV standard, and the early AC electrics quickly had their 6.25kV equipment removed.
Technology has moved on a lot since then of course, and multi-voltage locos are a much more attractive proposition now than then, such as Eurostar and the class 92s, but I think that we have 25kV and should stick to it, adding another voltage is just an unnecessary complication.
Answering a couple of the other points, I think that a suitably spruced up 150, with their shorter 20m carriages, would be ideal for lightly used branch line routes to replace the Pacers if it was decided that branch lines were to recieve cascaded stock and not new build. Surely a 150 has got to be more efficient for loading and unloading than a Pacer with it's three doors per side arrangement. If a new build was decided upon then I can perfectly see 172 Turbos rambling down the Whitby branch or whatever; more so than the 170s as the 172s have more lightweight bogies, so less trackwear.
I think that the IEP, if and when it gets approval, will be a great opportunity to cascade some good quality stock to lesser routes; 4 and 5 car Voyagers going to Transpennine (if it's not electrified) and the 185s displaced replacing the 158s, which could then take over on regional 150/156 "Sprinter" duties, leaving the 150s to replace the Pacers. Well, that's what would happen if I got my way
And on the subject of spot hire units, I reckon that a few high powered four car 170 Turbos would be about right, and dual voltage 350 Desiros for the electrics.