Both you and most of the Autoblog staff have been smitten by the Mondeo's style, but the question remains: where will it fit in? The sedan would directly compete with the Ford Fusion, so the possibility of moving the Mondeo up market and slapping a Mercury badge on it is one possibility.
As for the S-Max: most will agree that the people mover segment is in desperate need of a makeover. While minivan sales remain stagnant and consumers move on from the SUV-craze, there would seem to be a market for a nicely designed, well-equipped vehicle that can hold the kids and the prerequisite soccer supplies.
If and when all this would come to fruition is up in the air, but if Ford decided to make this kind of move, we wouldn't expect much before 2009.
[Source: Automotive News – Sub. Req.]