This is very true. However its nearness to me is not the prime reasoning. It is where the initial national 'drive it to the event' rallies happened and thus has some resonance and history that would encourage those able and willing to participate to make the effort. I would love to nominate Weston Park which also hosted events that were perhaps more inclined to the 'drive it' ethos, a better venue in many ways and central, but we would not get in now as we are too small and/or would need to book at least a year in advance.
The nearness of Burford is actually a minus since I cannot really get out of helping to organise such an event! Given the negativity of several organisations such an event would have to be self or privately backed and create its own following so it would probably harder work than might be imagined. The question remains, is there enough interest in the South to make the event worth while. We know the North harbours some very active drivers, the South seems a lot less active save for a couple of hotspots and individuals. Also the event would still need to cater for a larger number of support vehicles over a weekend than it used to, which given the facilities available in the area suggests a two site event with the Cotswold Wildlife Park playing Saturday due to the habit of folk going home early and thus it being more suitable to have a round robin run out on Sunday so it is less noticeable when folk drift off home through the day. Indeed the very set up Otto came up with for Story all those years ago. This suggests a serious run out on Friday, we used to do about 110 miles at Story on a Bank Holiday, and a Thursday informal ramble. To really match that it immediately suggests Easter or May BH in which case the days slip one back. Trouble is many folk do family things over BH and that would bar the driving of the Micro as planned.
If that event was successful then there is every reason to see it move round the country, not least to prevent the run out repeating itself. Clearly good touring areas would be a requirement with bubble friendly infrastructure. See ideas like getting permission to drive over Barmouth bridge from the powers that be. If your small, use it to advantage.