I agree and disagree on the whole kids on TV thing. While I do believe you would find more "Kate's", there would be plenty of kids actually caught into the actual game, I mean, not everyone would want to express themselves like Kate, I would be a little nervous to make outbursts and interrupt Kirk like she did.
As for the Legends, it's funny, I think they went from horrible, to good, to horrible. I hated Season 1 legends, I didn't want to see images of the moat and the kids faces while the Legends were being read. However, those Legends were the most "factual % accurate".
Season 2 were the best, I actually remember enjoying those Legends, the Lucky Pillow one has stuck in my mind for a long time (probably due to other things in that episode.) Season 3 had strange Legends, and it had ancient characters using modern phrases, and to a older kid, sort of ruined the Legend. Snow Cone and Bifocle were very bad, and just looking through the episode names, you can see a lot of fake legends....
The temple would be similar, I feel like we would have more camera angles, like on the players helmet, they'd probably have them mic'd up for the Temple Guard scares, and frankly we'd have a more intelligent host, which would kind of take away from the fun. Believe it or not, I somewhat enjoyed Kirk botching the room names as a player was exiting, like "the Ledge of Size" and as the players were exiting, seeing him strangle the kids to get them in the camera shot, while he was sweating from working 12 hours while trying to remember what they won. They'd probably get either that Jeff Sutphen guy, or use a male star from one of their TV shows (thats an easy way to increase ratings...) . Funny thing is, I don't watch any of those shows, so I can't name one!