The Heathrow Southern Railway company have assumed that the 4 trains per hour Paddington-Heathrow-Basingstoke/Guildford services would be replacing the HEX services. There is unlikely to be enough paths on the GWML without.
They also assume that the grade separated junction at Woking is built so that paths to Guildford are available which don't cross the flat junction in Woking. They also mentioned that the long term plan for a grade separated junction in Basingstoke would also make sense. I don't know if the grade separated junctions are all that is required to allow services to go all the way to Portsmouth and Southampton.
And more power supply improvements for a starter as well!