Chuck Stanion, from P&T, the new owners, said they are not going to charge for access to the site, and that they are not going to be heavy handed with the moderation. They will, at some point add advertising to the site. (Sounds like a good idea to me.)
I don't know how much work they will put into fixing it up with a new design, or new programming. I originally speculated that they would when I made my announcement post about it here, but Chuck also said they don't have a big budget, but it also seemed they would put some new work into it.
That is not a direct quote, but paraphrased from what I can remember him posting.
When you are buying an existing website, you are potentially buying 3 things.
1. Their audience / traffic. (TR has decent traffic, but no where near PM's level)
2. Their content. (TR has a lot)
3. Their revenue stream. (Zero at the moment)