The GM&O would have been doing a hell of alot beter, ICG was probably one of the worst mergers ever, IC just wanted the GM&O for access to the port of Mobile, the rest of the GM&O went to hell, mainline and branchline, their main is now chopped into tiny little pieces, sold to shortlines, KCS and whoever else wants it, the rest abandoned, much of it illegally without ICC permission, often ICG tore out the rails before shortlines could even step in to buy them. IC itself may have been better off too, ICG killed really two really good railroads, though IC atleast came out with most of its mainlines intact.
I personally would have loved to see GM&O in the modern day, one of the classiest paint schemes there ever was!
Seaboard System probably would have been doing alright as well, probably no better or worse than CSX i figure though that they would have bought RF&P anyways for better access into the DC area.
Seaboard Air Line if they were left independant wouldve been in better shape too, like the GM&O, much of their mainline milage was lost with the merger, including the coastal S line in florida and virgina, and the Atlanta to Birmingham route, despite what others have said, the Seaboard group in one form or another wouldve dropped passenger trains, SCL was quite eager to drop even the florida trains when Amtrak rolled around, they tried even harder to kill the Silver Comet, which they successfully did despite strong opposition from online communities.
