There wouldnt be any point re-opening Balliol road, as they could simply have the trains cross over onto the merseyrail lines and terminate at the third platform at Oriel road (or continue to the third platform at Bootle New Strand).

I do think this line will eventually re-open to passenger traffic due in part to the Anfield expansion's transport plans requiring a station to be opened on that line. If its overhead, they could probably extend the overhead to the above stations at little extra cost, nicely linking the two lines. merseyrail could then get dual power trains when they put their order in for the new stock they will need by 2010/15 and then they could run services directly to lime-street from the northern line via Anfield.