I've said for as far back as I can remember that I'd love to see Dream Theater do an all acoustic studio release, with Jordan on a piano. It wouldn't have to be a full-on new record, but rather something to bide the time between releases.
Sevendust did this same thing with its Time Travelers & Bonfires release. They did six new songs, acoustic, and then re-worked six of its older tunes on acoustic. Then they went out and toured on it, learning a few more tunes along the way. It really came across great. And then they went back into the studio, and put out a crushing album (Kill the Flaw).
For DT, an EP like this, with a few new acoustic originals, and a few re-worked classics, would be a cool new direction for them, even if just an experiment to recharge the batteries for a bit in-between regular studio record releases...