Number of issues here,
1. Route to Preston is single track, would need loops or doubling
There is already a loop at Rufford between Ormskirk & Preston. If they didn't redouble the line, which they should, then the Rufford loop should be extended south round the North Burscough curve into Burscough Bridge Station. Along with a loop at Croston, you could probably get away with a decent service.
2. Why consider electrifying essentially a rural heavily subsidised single track route that would generate more users if linked to Southport
See my above comment. But the route from Southport, through Burscough Bridge and Croston to Preston should be electrified at 25kv AC
3.Imo there are only 2 stations, apart from Preston & Southport, that could generate reasonable passenger numbers, Croston & Ormskirk, plus you would have to consider rebuilding Midge Hall
Burscough as a decent enough population to generate reasonable passenger numbers. I do agree with you about Midge Hall. The way that Leyland is expanding to the west it wont be long before it is enveloped with housing.
4. Beeching closed the wrong bloody line, prat !!
5. Would love to see the reasons for no business case for Preston - Southport ? if you have ever tried driving in rush hour it can take over 1h 30 to Preston, current train time to Ormskirk 31mins, Burscough bridge - Southport 15mins
Unfortunately it is almost impossible to use the train between Preston & Southport unless you are a complete rail fanatic, simply because of the time and at least a walk between stations at either Wigan or Burscough.
Unfortunately the comment to review the curves reinstatement if economic factors change is merely a get out clause to the those campaigning for reinstatement