If it is restored as a full fledged movie theatre:
My favorite scenario, this would be an incredible addition to the New Orleans area movie theatres. As I listed in my MoviePass entry, there are only a handful of theatres within the city itself(I listed 9, but most were in metro areas), and only one on Canal St., which not only was home to booku theatres, but also hosted the first permanent movie house in the country.
If fully restored, The Joy could become a place where old and new meet - Imagine buying a ticket from your smart phone minutes before showtime(I would recommend arriving earlier), then being greeted by an actual usher in a lobby as carefully decorated and structured as a Cathedral. You go to the concession stand, and order a bucket of popcorn and a medium daiquiri(yes, alcohol), before heading upstairs to the balcony. You take your seat, and enjoy a digital projection of "Fast Five 2" in a fantastic palatial setting - This would become my favorite place, by far.
Probably the more likely scenario, this would open New Orleans to being able to host even more live acts than it does now. However, movies can still have a seat at this table - "Rocky Horror Picture Show", anyone? Maybe a gala movie premiere for the latest Hollywood South blockbuster? Or perhaps a charity screening? - Multi-entertainment CAN include movies, too.
No matter what becomes of The Joy, it will finally be tearing down its' boards, and opening up for audiences once more. I just hope that audience includes a moviegoer or two.