Well, look at it this way. There would be no tunnel to OxyTown, and Woot could implement the whitelist off the get go. Making (for simplicity, I'll use the current citynames) Minetopia for the Guests, and OxyTown would start fresh (maybe with a plan, this time) with only whitelisted players. Instead of getting the random everywhere builds like we have now, we would have a neat, organized (or at least somewhat) city for the more trusted players with reduced grief; and a somewhat more sloppy city for the guests to build in.
Also, the Outlands would be wiped, and there wouldn't be as many random builds out there because guests would (hopefully) migrate towards Minetopia.
I'm personally not going back onto the server until Woot gets back. Don't want to do anything for no reason, in case there's a rollback or reset. You already know which outcome I'm hoping for.