Glad to see a thread going on CA!
About the innovation, I have one of the first post-Peavey GXs, and for me, it's perfect. The only thing I would change is to ditch the built-in electronics and go with a K&K. Any other innovations might, in fact, be a downgrade.
I think CA still leads the pack in design in two important areas, comfort (sculpted back) and the clear (no heel) neck join. And the thin neck option is the only CF on the market that gives you a Stratocaster feel on an acoustic.
So the question is, what would Peavey do to innovate? Getting The Blade back in production with a few tweaks would be good.
Any other ideas?
Maybe we can get Peavey in here to listen and comment.