I'm just going to throw out a few random thoughts here, after churning through all of this.
1) Regardless of how good a deal we get with Wasps, it won't give us sufficient access to any other revenue streams at the stadium. Being tenants at Wasps is almost by definition self-limiting - FFP in the Championship is even more restrictive than in L1. We might only get 15,000 at the Butts, but we're only getting 11,000 at the Ricoh. And at least we'll keep most of the money that is spent at the Butts, rather than a smaller proportion of that at the Ricoh.
2) I've lived through this "we need a 30,000 seater stadium" once already. I was daft to believe it then, and I'm not falling for it twice. 20,000 is plenty, and if we want to build a modular 15,000 expandable stadium until we actually do see success on the pitch and can afford to expand, that's fine with me. I'm heartily sick of sitting in a half empty stadium.
3) Wasps might be in a tighter spot that some here would accept. Gates have already started to drop, and they're still dishing out plenty of freebies. Every family in my kids school got a pair last week - that's going to be something like 300 free tickets just at one, small school. Wasps still only got 11,000 down from 14,000 last year, and they've got to pay back £2m a year in interest on their bond issue (an issue of which a large proportionwill only benefit the owner). CCFC helping them out with a long term deal might well not be in the club's best interest - as far as I can see it, anything that distresses Wasps has the potential to be good for CCFC.
4) I'm a Cov RFC fan, and I'd have no problem with it if it was done correctly. The heritage of both teams has to be protected and respected.