Not everything in the area is Guidos and Chets (and, as a half Italian, half Slav, I half take offense to the stupidity of those comments -- come up with different shorthand, please). Not that this Guido/Chet hangs out in the neighborhood much, but the original Morton's, PJ Clarke's and the Zebra Lounge jump to mind as places not particularly overrun by the stereotypical Viagra Triangle denizens. I suspect the new TV will be something like Roy's but with the tiki irony some desire. Not being on the sidewalk, it won't be set up for preening and leering.
On a larger scale, yeah, TV's makes more sense in the basement of the Palmer House and should be there, where it was since the '50's, a close second behind Beverly Hills as one of the original TV's (I think). By the way, the franchise seems to be going very strong overseas. Last, I agree with other posters that it's off mark to assume the Harry Caray's folks will do a bad job with TV's. It seems instead to make good sense. Like it or not, HC's is in many respects a similar setup -- something that could be just a kitschy tourist trap but instead is quite a solid restaurant that happens to have a kitschy tourist trap theme.