Why not indeed....
I've been tinkering with it for a bit now, both vanilla and TC12. PHENOMENAL! I played a very little bit of MVP back in the day and remember downloading a few mods. I remember two things: TC94 (Took over one summer of mine) and Krawitham Radio (still the best soundtracks in a game).
Anyway, although the game is clearly outdated, I've found a lot of fun to be had using it as a text-sim (i.e. OOTP or Baseball Mogul) with gameplay coming second. I've been simming tons of seasons (with vanilla MVP) and tried out the progression mod and it looks great! I got tired of all the budget issues, free agent problems, and stat issues with 2K so I'm pleasantly surprised to see the old dog looking much better!
Lastly, if this doesn't turn out to be a honeymoon period with MVP I'd really like to get into modding for it. I'm going to spend most of the day tomorrow reading up on the FAQ and getting used to the different editors and tools. I'd also love to help with any new patches for the TC12 mod. So let me know if there are any interesting projects worth taking up. In the meantime this is me trying to mod MVP: