We asked GWR▸ quite early on whether it was possible to terminate local services at Bristol Parkway, and got a firm 'no'. I seem to remember the factors were junction capacity, platform capacity, and the undesirability of establishing a service pattern which would have to be unpicked when Brabazon and Henbury open.
It's not clear whether TfW's proposed half-hourly Cardiff - Bristol stoppers would call at Ashley Down - if they did, it would be transformative, leading to a proper 4 tph metro-style service when combined with the 2 tph Henburys.
GWR suggest Filton Abbey Wood as an interchange, although with 2 tph to BPW» and quite long connections it's not great; for example ASD - YAE gives journey times of around 40-50 mins, of which over half an hour is spent kicking your heals at FIT. Still quicker that the bus, but could be a lot better.
I think TFW will only run sn hourly service to Bristol
TM‡ along with an additional service to Gloucester as part of the proposals for. New local stations between Severn tunnel junction and Cardiff Central although I doubt we'll see all of them being built. Eg Llanwern or Magor I could only see one of them being constructed.
Ashley down is shown as a stop on the proposed Bristol TM service and I believe tfw are looking to order an additional batch of class 756s. Their level boarding will be a game changer for people in Bristol although curved platforms at Temple Meads will be interesting