In my opinion aside from some minor difficulty tweaks, Bungie just needs to make the gear you get from the older raids and POE infusable. The levels of the raids might need a small adjustment, but it is unrealistic to expect Bungie to add level 41/L290+ levels on the older raids. I can imagine the raids to be something like this:
VoG Normal: level 21/Light 160+
VoG Hard: Level 26/Light 220+
CE Normal: Level 31/Light 220+
CE Hard: Level 36/Light 280+
KF Normal: Level 41/Light 290+
KF Hard: Level ?/Light 309+
This way, players of all levels have a raid to do, and a progression to look forward to. Veteran players can still run the older raids to get the the revamped gear (albeit the gear would be at a low Light) and infuse them to desired levels.
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And the end game players are screwed. If this is what happened, they should all be available in challenge mode at 309. (You might have said that, in which case sorry for pointless post)
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Well ideally Bungie would update all the raids with end-game difficulty and rewards. But realistically I don't think they will do that. I wrote my suggestion not from what I really [i]want[/i] but what would be a change that would at least make the older raids viable again, and at the same time not take too much development time away from Bungie.