It's weird because the previous FTN studio was perfectly serviceable for the Evening News and was only a year or so old - and IIRC Norah anchored EN from there a couple times and it looked really good.
An 11PM or otherwise late national news won't work - too many are in bed by that hour and it would probably need to be "edgy" to have a snowball's chance. What I do think would work is someone expanding their evening newscast to an hour each night, so there's more opportunity to produce and air stories with depth and not try to jam everything most of the public already knows into 90 second packages--basically put on a watered down 60 Minutes, but every night. That's basically what Scott Pelley's Evening News was, and even in a 30 minute slot it was excellent.
As the syndication market falters and more programming's coming in-house, I wonder what network would have the guts to try it. CBS, honestly, is a prime candidate. Their syndie arm just dropped the Insider and while Inside Edition filled the hole in a lot of markets, that time could absolutely be spent putting better content on the air. I bet plenty of station groups would love to not have to pay for another half-hour of programming for their stations.