I remember reading Michael Hutchinson's hilarious account of trying to build a bike that complied with the old UCI Hour record standards, because none of the components were manufactured to that spec any more. Admittedly he is a skilled satirist and was trying to bend the rules as much as possible, but it does indicate a problem with trying to standardise a record.
Even with that, hour record hunters are looking for the right track and atmospheric conditions. As mentioned above the rules is the rules. Use them wisely.
I've always been impressed with Steve's fortitude, have no intention of coaching him (as I couldn't possibly ride 200 miles a day back to back in this weather) and will keep my thoughs on whether he will succeed or not private.
However, for those advising a 1 January 2017 relaunch there are some practical considerations, which I don't think have got much airtime: what does Steve do for the next 11 months and, if he does, his one year time trial will then have extended (effectively) to 3 years. That's more than a chunk out of anyone's life.