I'd love to hear one more Phil solo album, particularly as he'd probably be able to write some hard-hitting stuff given everything he's been through the past 15 years or so. Something raw and emotional like Face Value or Both Sides.
However, I think he's probably done; we'll probably only see/hear from him in the odd interview, if that.
Mike will probably do some more Mechanics stuff, Tony may toy with a few things, Peter will probably release a new album in 2099 and Hackett will very likely keep doing what he's doing until he finds himself in a position where he has to retire (fine by me, I enjoy his shows!).