Would you care to link to these rumours since I am active member there and and have seen nothing recently other than the usual background babble. The chance of a Speedmaster Reduced reboot strikes me as very unlikely*, an update FOIS more believable perhaps but there is no more chatter there this week than previously. A new 3861 movement straight lug does make sense but I wonder if they would want to water down the special sauce Omega pretend the 321 NEW (New Ed White) has. The FOIS offered much of the same mojo at around a third of the price so needed to die if the 321 was to seem credible.
*it was a low rent thing the first time around and not in the market place Omega wants to inhabit these days.