Road & track did a better interpretation of a production FT-HS some years ago
As for a new Supra...
Design wise, I think Ferrari (with the 599) and Jag have taken whatever could have been an evolution of the MkIVs shape and claimed it as their own. It also won't fit in with Toyota new corporate body language so, I don't think we'd have much luck expecting a curvaceous car. A longer, less edgy fr-s concept would make a great base for design...
sorta like
or