For me I would have happily wrapped up loose end and set up a return if only a return in the very far future.
At the point of the episode before the last episode, I think they would have had to say 6 months or even 6 years later to wrap up what we've just been seeing over the last years of down fall in 1 -2 hours.
First I'd have Bobby come to J.R. and tell him his investigators have found Pam and that he's going to be with her, she won't return to Texas (figuring VP would not return). He hands J.R. a folder and tells him, "That's the deed to South Fork, the house. I'm keeping the South Fork Cattle Company and the land, I've set that up in a foundation to protect it in perpetuity. As for the mineral rights, momma still owns those. Good by J.R."
J.R. would wish Bobby luck with Pam and see him off. Yes some people would probably think that it's contrived and too sappy for Bobby to leave like that - but to me it ties up a LOT of loose ends.
I'd focus on J.R. and that in the last 6 months or 6 years he turned everything around on his enemies and was consolidating his wealth and power in Ewing Industries which would include: Ewing Oil (oil production which has gobbled up Barnes Wentworth), West Star (transportation, refineries and gas stations, wholly acquired and taken private), and Wentworth Tool and Die (manufacturing of high tech drilling technology), Cattleman's Bank, etc. Put him at the very top of his game . Have everything in good shape, J.R. on top, two boys to follow in his foot steps, bring John Ross and Calley's son to South Fork. Make it almost as if his purpose for living has been accomplished - so what's to live for next.
I'd reveal that John Ross and Pamela know each other from boarding school, a very young girl with a very mad crush. And I'd reveal that Calley's son is a very smart boy in school while John Ross struggles.
I'd reveal that Cliff Barnes is the newly appointed Senator from Texas.
Then I'd show Venezuela and a mercenary team going in to fight in the jungle, coming across a De Le Vega drilling site, which they take control of. A helicopter lands and J.R. walks off and onto the platform. "This is what you were here to secure, daddy." He looks around. "Consider it secured."
An offer says, "We've nearly separated everything west of the Andes."
"Keep up the good work." JR pats his shoulder and survey's the site.
Then we hear that Jeremy Wendell has bought up the debt J.R.'s created and returning from prison reveals that McKay worked for him and that his company, Lone Star Investments, and that through his lawyers he intends to take a piece of Ewing Industries. J.R. taken by surprise tells them it'll be a cold day in hell, almost happy to have something to fight for again.
J.R. at South Fork with John Ross and his youngest son watches Lucy move into the cottage out back. Turns out Bobby left it to her as separate from the house. He mentions she won't be happy settling down in a small cottage in Texas after her jet set life and with all that money from the death of her second husband, that she should go off and spend it on clothes and makeup. Lucy says, "No, I'm right where I want to be." She winks at the boys with a big grin. "Because I have something that I know you'd love to get your hands on."
"What's that?"
"The foundation Bobby set up to take care of the the land of South Fork, he left me in charge of it."
"And what would I want with a bunch of cow pasture?"
Lucy smiles, "And grandma add the oil trust to the foundation, to do some good for the people of Texas."
"Momma's not gonna let you drill on her precious land."
Jeremey Wendell walks out of the cottage, "No J.R. but she isn't opposed to slant drilling from the McKay property or should I say, my property."
J.R. would be on the very top of his game, with his most wicked enemy out of jail and partnered with a wealthy Lucy to be a thorn in his side and his neighbor.
Lucy walks up toward the house and the pool saying, "So what are we having for dinner."
Jeremy starts to follow her. J.R. says, "Oh no, not you. You stay put." He then follows Lucy, "How about we make a deal for Ewing Oil to do the slant drilling from another piece of property. I've got the old Wade Ranch." - making a deal right up to the end.