I personally wish that there was a new print edition.
Don't get me wrong, I'm not saying a full 3.5 version with the current material. For me, that's one of the reasons why I was unhappy with the Creature Collection Revised. It was one damn ugly book in it's first printing and making the images larger to take up more space didnt' do it any favors.
Instead, it would need to have new artwork. To cut down the size, take all of the Necromancer monsters, and there are quite a few of them, out of the book. Also take out any monsters that have gotten 'official' treatment from Wizards of the Coast. That should lower the book's overall size.
Then get NEW art for about 85% of it. Tome of Horrors Revised. Perfect seller.