I agree. VF and CGA both are in need of upgrades. We should not forget that CGA was almost sold when CF and the city of Santa Clara were at an impasse about parking when they started building Levi Stadium next door. That was also when CF's 'Fun Forward' strategic plan came about, with Carowinds and Valleyfair listed as "growth parks." And we VF junkies went on a speculation free-for-all. Things can change quickly. I think CGA moved to the front of the line because of the zoning changes approved by the city of Santa Clara. Had the Army Corps of Engineers and the city of Shakopee given VF the green light to start its expansion BEFORE CGA got its zoning changes, I'd bet that VF's water park expansion would be well underway, if not already completed.
As far as a new coaster at VF, I agree with what most have suggested is the likely placement - some sort of medium-sized coaster on the Dinosaurs Alive site once that lease ends. Fingers crossed for a B&M, but at this point I'll take anything. Also, I haven't heard anything about the fate of Boomerang after it was removed from Knotts. Although Matt Ouimet has stated he's not a fan of ride relocation, there's no indication that the ride was scrapped or sold - plus, it was recently refurbished and got a new train. While Michigan's Adventure seems like the obvious place for it, I wouldn't count VF out of the running for it either.