I'm all for a new Babylon 5 series; however, I'd like to see it done in a similar manner as The Lost Tales but taking the concept a bit further. An anthology series set aboard the station itself, dealing more with the individual stories of the people who inhabit and pass through the two million tons of spinning metal. Each week could have a different story with a different writer, preferably of a LitSF background. The setting is so apt for a variety of tales. Babylon 5 is the naked city in space.
One of the aspects that I loved about the series was the smaller stories of people who come to B5.
The main characters from B5 would be periphery to the series. Once in a while, an episode could focus on one of them but I'd rather it be about the "little" people and not those who run the station. Kinda like "A View from the Gallery."
An anthology series with a permanent setting is something that I've longed to see and I think Babylon 5 lends itself to that. It would also give other writers a chance to play in the Great Maker's sandbox.