Wow, I got quite a conversation started, lol. 🙂
Instead of spamming a bunch of individual replies, let me try to respond to the main points brought up.
First, as far as what to do with the returning Statesman; he can do more than stand around. It's up to the devs to find ways to use him, and we can offer constructive ideas there *IF* he were brought back.
Regarding changing existing content, there's not much need. All the game's content follows a timeline with characters caught up and in the present when they reach end-game. All MMOs work that way. RPers have learned to work around it also with duplicate missions being said to be something else or OOC. If nothing else, there's Ouroboros for missions. 🙂
Tyrant's redemption... Well, that's another story. *IF* it ever happens (it's been talk for ages now), it presents problems or at least story arcs of it's own... Here's what I mean:
I see one of three paths happening with such a redemption arc...
First is it's 100% legit and Tyrant becomes as big a boy scout as Captain America or Superman. Where does that leave Praetoria though? It's either sunshine and kittens everywhere (doesn't make for good storytelling after the reformation) OR Tyrant is ousted by one or more of the other Praetors and becomes an exile. MAYBE he could lead the Resistance at that point but after ages of horrors, the people aren't going to be so quick to take him on as a savior.
Second, it's all show as Techwright posted above. Tyrant's ego is huge and everything is about him, so the redemption isn't real. All this story path does is further muddy the name of the Statesman character and would probably leave people as annoyed as Tyrant impersonating Statesman in that fighting game.
Third might be the best from a pure storytelling perspective; it's sort of real. Cole wants to do better but is struggling against his old urges and tendencies, as well as forces in Praetoria that see his change in persona as a sign of weakness. Heroes are left acting as his conscience, cleaning up his messes and helping him try to guide Praetoria to something better. Eventually he gets there and becomes truly worthy of the mantle though.
Any of those options could happen even with the original Statesman returning though; Tyrant just takes a different name for his new heroic persona.