To continue the discussion, I'll be sure to make a visit to Wet n Wild this year.
As for the future of Wet n Wild land, for the time being, I could see it being used as a temporary staging area with so much rumoured to be happening in the parks over the next 3 years and with land quickly running out, it seems like a logical solution.
I'm also expecting some large walls with billboards around the peremitor of the park and possibly a free bus service from Wet n Wild into Universal, it could be a great way to encourage more people to visit.