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While the current comic isn't quite what I hoped for, a comic that I would be very interested in would be a hefty graphic novel set around the time Statesman comes back to clean up town. Back when he wore the domino mask.
Following that the novel would chronicle parts of his life over the next few decades (and costume changes) using time slices of important but linked events to develop the character, the personality and the legend. Also showing when he first met his closest allies among other tidbits, all of which set the stage for current day Paragon and create the sense of epic iconic superheroism that comes with it. The tale could be told through the eyes of a third party observers.
In addition perhaps with some allusions to Lord Recluse and Arachnos forming in the background over time in subtle ways would be very nice too (setting the stage for the next issue).
Basically, I am thinking something in the style of "Marvels" and "Kingdom Come" (these are two favorites if you couldn't tell).
The writing could lend itself well if it were written by Kurt Busiek and Mark Waid, the folks that did the aforementioned novels in the first place. And it wouldn't be complete without Alex Ross's artwork.
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YES. YES. YES. Alex Ross's artwork is amazing. Get him on the phone right now to start negotiations!!!!!