If the Bahrain GP is going to be replaced, I'd choose one of this venues:
Magny-Cours: New motorway and facilities, and the circuit layout is spectacular, specially the first sector.
A1-Ring (Now Red Bull Ring): Nice track, it has been almost totally reconstructed and it's going to host the DTM to replace Adria Raceway.
Indianapolis: I don't know why Bernie just didn't do anything to keep F1 in the USA these years. This track is very good, americans love racing, and it could work well while we wait for the Austin GP.
Hermanos RodrÃguez: Wouldn't it be great? In my opinion yes, but it's extremely unlikely, regardless of Sergio Perez and his fans. The layout, excellent.
Or the last option, the one I choose:
Cancel it and don't replace it, at least for this year. 20 races is too much for the drivers, and it's good to give them a break.
Stats: 139 Starts / 7 Wins / 9 Poles / 5 Fastest laps