Since I heard a few of the TBP staffers are worried about someone tweaking the POF code and rendering all their models obsolete, I have an idea to possibly avoid this problem. It's kinda hard to explain, but in a nutshell, it involves adding a second filetype to the engine.
This second type might be called XOF (eXtended Object Format) (maybe?), and all work in POF recoding should be centralized into this one add-in. This allows the engine to both understand the original POF format, plus allows modelers to make XOF models to take advantage of any new features the XOF code offers, whatever they may be. Plus, if it's possible, let the XOF code be backwards compatible with older formats: if advanced features are available in the code but are not present in the model, it won't break anything.
Probably a few fixes for the current POF code (and not needing any funky new file formats) would be allowing textures to be something other than a PCX file. This can be immediately useful for making animated textures in ANI format and allowing them to be mapped onto the models, as well as making "glowpoints" which are basically the navigation lights we saw in Homeworld. Simple add-in to the TBL file can specify what texture to use, how big it is, and if it blinks and how fast it does so. Also either ANI or PCX compatible.
If you're thinking that it might be just as easy to do the backwards-compatibility on the POF files rather than add a new file type, well, you're probably right, but this way allows us to keep a working object format while tweaking the XOF code. Plus it'll give us a way to differentiate between old and new models, keeping compatibility at a maximum.