I've often thought about this. If they were to reduce the number of meetings, what would the cut out?
They just completely revised the way the ministry school will run. R&F are getting the revised guidebook, the changes go into effect in '03. Not likely they'll get rid of that.
Service Meeting - Not at all likely. This is where members are guilted into doing more in the ministry, exploring alternative forms of ministry, instructed in how to do the house-to-house ministry and harassed or bored to tears with local needs talks. I wonder if the ministry would even go on without the pressure of the service meeting...
Bookstudy - A possibility, maybe, but still, hard to imagine. R&F are often told that when the time of tribulation arrives, they will be forced to meet in small groups - and so they should get to know those in their bookstudy groups. In reality, this meeting allows the elders to more closely observe the members of a congregation.
Public Talk - Usually the most boring meeting of the week; occasionally an interesting speaker comes along. Though I'm not sure if others would agree, I've often found the public talks to be quite repetitious and very generalized. The congregation members daydream while looking up scriptures on autopilot. Those "worldly" individuals attending for the first time are given a mild introduction to JWs.
Watchtower Study - The primary modern source of spiritual nourishment. This is the meat and potatoes meeting; Christianity according to the Govering Body of Jehovah's Witnesses 101. It's hard to imagine JW life without a question and answer WT study.
Logically, I believe that the public talk would be the best candidate for a pink slip. However, since it is so traditional for a church to have some sort of a Sunday sermon, and since the public talk fits this religous tradition so well, I can't imagine them doing away with it.
But then again, you never know...
I started a related thread:
http://www.jehovahs-witness.com/forum/thread.asp?id=24869&site=3