I can't remember what I had already posted ITT, but the way I'd approach it, is that I wouldn't include nostalgic content for nostalgia's sake, but more so in a functional way. For example, if I were designing the campaign, I'd expand it by having certain events be selectable under certain brands, much like we did in GT4.
On this same subject, I'd include events from prior games, especially if there are multiple cars that fit an older event's regulations. One such example would be The Race of the Red "R" Emblem, as there will be four Nissan Skyline GT-R models in GT7. This would be as opposed to bringing back the similar Nissan GT-R Cup from GTS. Alternatively, maybe both of those two particular events could return, with the latter being for the R35, especially if we eventually see the return of the first two iterations of the R35 - the Spec V and the Black Edition.
I'd also keep certain original musical pieces, like the jingle that played for winning a prize car in the PS2-era games. It would certainly seem that GT Sport has an interesting idea, where the jingles for winning bronze/silver/gold for licenses seem to come from prior installments.
Finally, I liked GT6's idea of being able to pick the color of a prize car, as well as the fact that prize cars in most prior GT games had a motif that tied into the event. I can only hope that there'll be some interesting picks for prize cars in GT7's events. Maybe they could be somewhat random, with a range of one to four possible prize cars, but they'd all fit into the motif of the event, rather than in GT3 where they seemed a bit more random. With the French Hot Hatch event, I could see the prize car being a Renault Sport model, like the Clio V6 24V, as I doubt we'd win a Citroen DS3 or Peugeot 208 GTI for an event we would already need them for.
Actually, here's an idea. Maybe instead of prize cars, they could do something similar to GT5, where we get vouchers instead. That could allow us to pick a car in a given group - such as the aforementioned French Hot Hatches - and even pick its color. Plus, winning an event would guarantee that the resulting prize car could count towards our respective Pokedex GT Cafe collection.
EDIT: Something I also liked about GT Sport's campaign was the idea that new events could be added in updates. Given that GT7 is confirmed to have car/track DLC, I think it'd be a missed opportunity to not also include new events that would make use of these additional cars/tracks, even if it just means that some of the events seen at GT7's launch are updated to allow DLC models. For example, if the Nissan Skyline GT-R C110 is DLC, and if GT7 has Race of the Red "R" Emblem at launch, then the regulations could be updated to permit the C110.