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The problem is that the requirement calls for 360h/PAA/year. There aren't that many two-place F-16s with that much life left. And unless you chop the burner off you have a noisy airplane.
DrR - I don't think it makes a fighter, per se - although you might have a CAS platform as the migration to smaller and more accurate weapons continues. But Boeing could certainly use it as a demonstrator of how the new Black Diamond ManTech suite applies to a combat-type airframe, and if they could reduce development cost, steepen the learning curve and cut manufacture costs, it would reduce the F-35's incumbency advantage.
DrR - I don't think it makes a fighter, per se - although you might have a CAS platform as the migration to smaller and more accurate weapons continues. But Boeing could certainly use it as a demonstrator of how the new Black Diamond ManTech suite applies to a combat-type airframe, and if they could reduce development cost, steepen the learning curve and cut manufacture costs, it would reduce the F-35's incumbency advantage.