I have been keeping track of the numerous competing efforts to build a new ship in the image and/or memory of the Titanic at my Titanic reconstruction page but see no way a perforce inaccurate reproduction of 1912 technology could reproduce the spirit that produced that ship in the first place. White Star and Harland & Wolff did not proceed with the aim of building something 87(or more) years old!!
The task before a new liner is clearly to establish market dominance, defeating the Queen Elizabeth 2 or any likely successor, in competition for the transatlantic route,and I believe my dream ship could do this while a Titanic replica clearly could not...one need look no farther than the fate of the Michelangelo,the Titanic's size and much less crowded and less obsolete.
That the largest liner of all time entered service in 1940, the fastest in 1952,and the longest in 1960 is sad in 1999. While the tonnage record has of late fallen to a cruise ship, a cruise ship is a sorry substitute for an ocean liner.
The recent announcement that Cunard plans (and is slowly setting the dimensions,size,capacity,or itinerary for) a new "Queen Mary" that they claim will be the largest and most luxurious "true oceanliner" ever complicates the competition to set these records, but looking at Carnival's past creations and philosophies one must question whether a "true oceanliner" will be what they come up with now that they control Cunard.The QM2 has now floated at the shipyard, and looks rather less linerish than any ship ever portrayed as a real liner.