Realistically, with the ever increasing synergies between Jaguar and Fiat, we can probably expect to see any new small Jag being based on something like the Alfa 159 platform.
From a continuity point of view, it will still offer front drive for the lower end of the range and all drive for the upper part of the range. Add in the fact that it is already engineered for six cylinder engines you have a relatively inexpensive good basis for a new model. Any "small" platform car could also utilise Fiat / Alfa floor pans.
Certainly, in an idea world we would see Jaguar develop its own small rear drive platform to take on the likes of BMW but I think that may be a step too far in the current climate.
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Updated: 23rd November 2008