One) Theocratic Ministry School will shortened till it is finally replaced by the congregation book bible study.
Shortened maybe, but I can't see them getting rid of it completely because that's their main method of training members how to speak in public and knock on doors. Since they'll never get rid of that, they're always going to need the TMS.
Two) Field service hours will no longer need to be reported and over time no records on similar things will be reported.
That'll happen when pigs fly. The Mothership knows full well that if they ever got rid of the mandatory reporting of time, 3/4 of the R&F would simply stop going out in Service. Since this religion lives for statistics, they need to know how many hours people are faking getting, along with the number of magazines, books and booklets they give away, for the ever-important Worldwide Report they do every year.
Three) The public edition of the Watchtower will cease to exist leaving Awake as the sole placement. Which will be little more than a tract.
Possibly. Since the public edition of the WT has been watered down, it's not much different than the Asleep! magazine now and they might consider this as a cost savings method getting rid of the one.