Okay, here's (loosely) what I'd do with the SPECTRE follow-up.
It opens with Bond living in Jamaica with Madeleine (perhaps, in a nod to Fleming, they could use the actual Goldeneye house as Bond's home). He's working as a security consultant for the Governor-General of Jamaica. We get to see something we haven't seen before: what Bond looks like detached from his work. He's clearly bored--gambling too riskily, driving his car too fast when alone--but is certainly in love with Madeleine. So what we get is a bit of Don Draper circa season five of Mad Men, who was torn between his own personal desires and giving his wife what she wants.
Blofeld, who is being held in a secure facility in the Falklands, escapes. His first act is to get revenge on Bond: Madeleine is killed. With that, CraigBond doesn't go into depression, but, resigned to being 007, rampages through the remnants of the SPECTRE organization like Connery tears through SPECTRE in the pre-title sequence of Diamonds Are Forever: kicking ass, taking names, all the while taking the time to savor every drink and girl he comes across because, deep down, he believes he's going to his grave and that this is his last opportunity to enjoy it all. It's not really a quest for revenge as much as it is a fatalistic acceptance that his true love will always be the mission, not the girl; Madeleine's death is less a deep wound than an event that finally jars Bond out of a dream that he, deep down, always knew was nothing more than a dream.
Meanwhile, Blofeld's gone batty after SPECTRE and is launching an outlandish plan: he wants to his own nation-state. He intends to use a biological virus (which is capable of targeting specific DNA strains and populations) as the tool to get his wish. So he's holed up in a research facility in some fictional country where he's supplanted the existing power structure, preparing to blackmail major world leaders. This research facility, naturally, contains a "Garden of Death": a menagerie of poisonous plants and animals, all ostensibly for research purposes, but also convenient for dispatching inadequate henchmen and to subject Bond to a grueling, nightmarish final test of skill.
You end with the picture with Bond killing Blofeld during a dramatic final assault (for the first time in decades, we get a full-on commando assault on the villain's lair), but presumed dead. While composing his second obituary, Fiennes' M can comment that it takes a hell of a man to meet two deaths in the service of his country. Meanwhile, an unconscious Bond is found by a local (perhaps an improbably beautiful girl, in a nod to classic Bond tradition). The last shot: Bond opens his eyes. Cue Bond fanfare and big JAMES BOND WILL RETURN banner.
That is bloody brilliant, Harmsway. Send it to EON!
Genetic engineering could even sate their "relevant fear" brief for every Bond plot