I think we've covered the technical infeasability of splitscreen in that environment, but I'd lap up a sequel in a new city for sure. BP is still one of my favourite games of the generation.
More like "time consuming and not a worthwhile investment with online services so common." Seeing games like PGR4 and FM3 do splitscreen doesn't bode well for the arguement that it isn't technically feasible--they would have to do what every generation does: cut down on LOD, possibly cut framerate in half. But you would find splitscreen gamers more than willing to accept 30fps splitscreen (some games, like Halo and CoD don't even do full splits!) and lower LOD/resolution.