Personally, I wouldn't mind them cutting everything, or at least cutting it down a huge amount.

We all generally pick and choose our canon anyway, so it's not like we'd be losing anything, and it would give authors a whole new world to play around in.

Obviously, that won't happen, but I wouldn't mind if it did. I'm guessing that we're not going to see too much of a change, honestly. I'm sure we'll lose stuff that conflicts directly with anything that happens in the new films/current high-level canon, but that's going to be it.