I also think a Next Generation style show would work well for DS. However I picture David, not his kids, being the one who still can't help poking his nose into the supernatural. David seemed to always have an affinity for attracting unnatural phenomena and I imagine this being a continuing thing into his adulthood. I imagine Carolyn would be the matriarch of Collinwood, matured after all she's been through in her life. Maybe she'd have a hellion of a daughter (or son) herself. David's kids I think would be the opposite of him. Perhaps more scientifically-minded instead of whimsical.
Damned good ideas!
The hard thing about doing the next generation on DS is that they'd still probably have to bring in Barnabas, Quentin, Angelique and other immortal characters at some point, if only for a cameo. People would want to see those characters show up at some point. Casting the original actors would mean having to explain why the characters have aged. The other option is casting new actors which would be kind of lame and wouldn't work as well IMO.
I don't know, I wouldn't mind a next gen without the original villians, and if they cast new actors to play the parts, I wouldn't mind too much (maybe it's the DOCTOR WHO in me.) Or maybe they could work in a little back story about why the progeny of the originals are continuing to menace the Collin's family?