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Operation

There are 2 options, and the decision must be made very early in the planning process, before any design and manufacturing is started.

Option 1 - Main line capable
As this is likely to be classed as a "New Build", it will have to comply with the current safety standards. This may require changes to the outline of the locomotive. The provenance of key components will have to be known and documented. The locomotive will need to be certified at a considerable cost.
The plus side of running on the mainline is that the rewards are greater. The visual impact of the loco at Shap, Ais Gill or the Peak District, would be tremendous. Financially, being able to provide Prime power, or standby power for railtours, would be great for the society. 

Option 2 - Heritage railways only.
This is a lower cost option, and the loco can be closer to the original. The level of certification, and therefore cost, is lower. The downside is that the rewards are also lower.  This option will not prevent the loco being towed between heritage railways on the mainline.

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