I think that if they sent a note of "Cease and Desist", we could return to traditional BF2 + mod system and problem solved! Nothing happened!
Yes, but spending time on developing a standalone only for it to be taken down is not worth it.
Mmm... no.
I think the only thing you lose is the effort to make the "standalone" installer, that is, put in the same installer BF2 + BF2 patches + FH2 mod.
But, the modeling, maps, gameplay, etc is the same for both versions (actual, future or standalone). So, if they send a warning, we could say: "ok, sorry ... wait a minute" we remove the standalone version from the web and place FH2 mod files as usual, without the BF2 executable part and ready to go. Those players with standalove version installed would not have to reinstall anything. The servers are the same. If you need to install FH2 from scratch, you can get the latest version standalone on the black market and update or install BF2 + FH2 manually as is done now.
Saying it seems fairly easy. Probably these modification (standalone) involves several hard technical considerations and more. But simplifying it enough, is not more complicated than that (...I believe)