EDIT: magnetic wouldn't blow away, or need interlocking, but it does need an appropriate base, either metal or that magnetic plastic sheet. On with my long-winded post....
One thing that printable maps can do is free you to make any damn map that could go on a grid. More on that later.
A simpler option would be to get grendel here to spruce up the illustrator tiles and stick them in properly constrained PDFs so they print at the right scale. I know that can be done, but it was years ago that I studied Graphic Design. Yes, I have studied many things, all poorly.
Point being, that a simple PDF with essentially the original tiles but on smooth-sided rather than interlocking squares would let cheapskates get going pretty easily.
The original interlocking tiles are great and excellent in component quality on that heavy card but the graphics could use refinement. I don't hate the original art, just sayin'.
I have never played Space Hulk, just so everyone knows. For all I know it could be smurf combat on a hex grid.
Even so, pretty maps on thin paper have been OK with the Star Wars CMG crowd, and would allow square-grid, close quarter, "outdoor" maps and other novelties; similar range constraints, same movement rules, but novel environments. You and the designer/artist could then visually present some fleshed-out ideas of parts of the LOS
universe: Infranite caverns? Privateer asteroid tunnel complexes? Room to room fighting in Vologorod or wherever it was the Fantasians and UNE were fighting? The ancient ruined guts of a Kraf ship? In addition to scenarios that played those out using the tile system, you could present new artwork and layouts the tiles couldn't do. The art isn't just about being pretty, it's about getting people's imaginations fired up, getting them to think and feel as though LOS was its own "reality" they could borrow for their various battles and stories. Basically the visual aspect of giving people an imagined world to play their games in. In that respect the chance to tie beautiful evocative artwork into your game and its war-stories is actually really valuable. To digress a little, and go back to the tiles, this is one reason why really extravagant tiles could (depending on your approach) make sense: that's the world they're playing in. By making it gorgeous (in a claustrophobic, horrible way) you invite people back. By making it, say, paintable textured 3D tiles, you invite them to participate, to make parts of the game into their own artwork.
Just some thoughts.
Clark, the wide format idea occurred to me. But that would IMO only miss the do-it-yourself-for-nix benefits. I guess a major question is how do you see the game being packaged, marketed, sold? At one end of the scale the models, a half-A4 rulebook and printed paper versions of the old tiles might fight in a large blister or small box. Way out the other end you could have gorgeous textured plastic or resin versions of the tiles in a deluxe box with new sculpts and a big colour rulebook. Then there's just re-releasing the Black Box EXACTLY as it was, which has a certain audacity, a kind of "this game rocked your socks 15 years ago and now it's back, without one lick of stupid wimpy 21st century garbage, to kick your arse again." Hell, maybe all of these approaches could be taken.