Every year Elvis attracts new fans (and I have said this so many times I feel repetitive)-they discover him not from huge fanfare or huge expensive business ideas but from a picture, a song, a movie that they happen to come across.....and his charisma and talent-hooks them.
Large campaigns are helpful and they attract a lot of attention in a short time, how many steadfast fans it produces is debateable.
As you yourself have pointed out-Gracelands touts half of its visitors are younger and not from anywhere near the original generation of fans.
Elvis sells Elvis and I am firmly a believer in that-and have said so many times-the lasting year in year out fan become that way....because of the talent/charisma of Elvis.
Sure I am for anything that brings Elvis into new audiences-but this idea is obviously held up by something or it would have been done long ago.
If Time Warner wanted to be partner with Disney, EPE/CKX/Apollo for an all Elvis/Elvis themed channel they could have done anytime in the last 20 years-the rumor mill on this subject goes back at least 10-12 years and no action of any formal consequence has been taken.....that has to say something!
If it ever is seriously considered I'm sure Warners, Disney, Apollo will make some official statement of negotiations or talks and then we can all wait and see where they lead......so far after well over 10 years that has not been the case.