When I was in Korea in 91, there was talk back then of leasing it. They didn't have much to say about it here in the states, but in the Pacific Rim what the US does is pretty important and newsworthy. I think it will happen, but the two governments have to time it out right because of our mutual past. They are probably waiting for most of the Vietnam vets to die off before leasing it.
The loss of Subic was strategically not that important. While we don't forward deploy many ships now, we really don't need to right now either. Singapore spent it's own money to enlargen it's port so it will accomadate US aircraft carriers if required, and I seem to remember another country that did something similar in the area. I can't remember if it was thier port or airbase, but there's many countries in the Pacific that want the US presence to remain. We are THE stabilizing factor there, and it allows a great deal of economic growth and prosperity throughout the area.
Russian naval power is pretty much non-existant, and they never utilized the full capacity of CRB. Vietnam and China fought a short war in the late 70s-early 80s IIRC. They are not on friendly terms at all. They downright hate each other. As China grows as a threat to the US, you can bet the old "enemy of my enemy" deal will come into play.
I would expect nothing about it for ten years though. China poses no direct threat to us yet, and it will take that long for them to get strong enough to do so. Also in ten years the legacy of the Vietnam war will have died down on both sides, and Vietnam itself will be interested in some help with China and expanding US trade.
Ross