I do hope a test match world cup takes place, but then due to the packed international calendar we have these days, there wont be any time to have it before 2011. The earliest it can happen in 2012 and by then, there will be atleast 1 or 2 more teams with test status.
Now, it would be good to divide the 12 test-playing teams then in 3 pools of 4 teams each and have the top 2 teams from each pool qualify into the super-6s. The world cup, will take around 2-3 months and will go by this schedule -
With 4 teams in each group, we will need 6 league matches for each pool and will need 3 rounds for each pool with all 12 teams being in action -
Day 1-5 - Round 1
Day 9-13 - Round 2
Day 17-21 - Round 3
Now, we have the 6 teams for the super-6. In the super six, we can divide the teams into 2 pools of 3 teams each to reduce the matches and to give the teams some rest as well. This will, being the need of having 3 rounds in each pool of the super-six -
Day 27(after a 5-day rest)-31 - Super-six Round 1
Day 35-39 - Round 2
Day 43-47 - Round 3
Now, the semi-finals, which should be a 6-day match and the final, should be a "timeless test".
Day 51-56 - Semi-finals
Day 61(after another 5-day rest) onwards - Final.
Also, the teams get a 3-day rest in between matches and during super-6 as each team has to play only 2 matches, so for all super-six teams, this rest, increases to 11 days in that time. The rest period has been increased a bit before the super-6 so as to avoid player burnout. But then, we will still need 3 months out of the cricketing calendar to host such an event and there is no time to hold it before 2012 and I have a feeling that there will be 12 test-playing nations by then or incase of 11 test-playing nations, we might give a qualifier a chance as well.