I'm with Bodi on it. The engine is probably the most distinctive thing on a bike; the rest is just styling. The engine has some part styling and some part performance.
The pushrod V-twin is obsolete by now. It is pointless to spend money developing it, you can take so much horsepower from it. It really doesn't make any difference if they spend time and money developing their own engine or buying S&S or RevTech patent rights and modifying the cases or fins to look different. You can't start from a blank sheet on a V-twin engine design.
New triumphs, even when developing their own engine, were more than "inspired" in Kawasaki fours. The key to Triumph success was the modularity in the engine -different layouts sharing a big number of engine parts- and wide portfolio. Indian can't offer many different models: they will be just variations on the cruiser theme. And there is no niche to fill: for V-twin you have either affordable, reliable japanese cruisers or genuine american Harleys. Indian will appeal only to those that want to buy american but out of the mainstream. Henderson went bankrupt too, and I'm afraid the new Indian will have a hard time coping with Harley. Only if they could offer their bikes cheaper than Harleys would they have a chance to survive: an american alternative, genuine, at a fraction of the price. Paying for an Indian more than the equivalent Harley is like buying a Lexus when you can have a genuine Mercedes.