I too thought about online Elite and discussed it on the
Russian Elite community forum, and much the same estimated structure of distributed system
emerged. It's determined by objectives. There's MMORPG servers with lots of clients, there's HL and IL2 servers with few clients and decent realtime, but for
massive simulator this typical conflicting objectives apparently should become much worse. Fortunately,
Elite space is not continuous: perhaps entire star sysem must be on single server, but that's all. Hence solution comes naturally - to support lots of players there should be:
1) central "dispatcher" server - it does not supports model of game world, but only statistics, authenticates and redirects clients to and between game servers (associates starmap with list of net adresses, etc).
2) "game servers" - where game model runs. Each supports one or multiple systems (depends of server and connection limitations vs. systems use).
3) remote background services (optional) - like hosting backup fileservers, running consistency checking procedures, etc. Clients must never contact these at all.
Optionally, this "metaserver" also can be divided to "operative" (fast-connection, for combat) and "strategic" (for most "background" processes) parts. Perhaps machine resources would less likely become problem than fast connection, but this depends of AI used. Though "strategic" part is not realtime anyway.
Perhaps approaching it from a centralised server direction where the users have potential ownership of a system and have access to the tools to alter these systems but the information is still centrally stored?
I completely agree. It's not integrated p2p, but distributed single server,
and all it implies©.
The only problem I see with that I idea is that the Elite 4 universe would be a volatile as the real internet, meaning, when a community server goes down, that part of the universe would be gone.
Yes, having lots of servers all permanently online is hard (especially if it's not Google... or even Frontier, but just bunch of fans and independent developers who purchased "public server license" and want to run their Elite4-Anisotropic mod

). But players may just login to central server ("dispatcher") without knowing where they will be redirected to and whether gameserver where they current system runs is the same as in previous game session or another, where system was restored from transferred saved state (while another star may be assigned to another server).
Perhaps the core universe should be also managed by Frontier, where all the newbies log in.
Of course, first (and "Main", in the eyes of community) game central should be started by Frontier (
with game's designers and developers among Game Masters 
)... it's hard to imagine it any other way.
IMO, they can also provide links to others' centrals - i.e. as soon as they gets their public server license and at last their metaserver really works, they can apply to be added in list.
You also have to take into consideration that people run wildly different setups, with PCs running at different capacities and loads that will determine how many players the server could realistically handle.
...of course, game-central's admins should decide whom to integrate in their system and whom not to. And there's probation period in test mode, logging, backup and control necessary - not only to hinder always possible cheaters, but just because of
unavoidably existing purely technical problems. Bugs in gameservers, to begin with. And of course load estimation is needed too, in order to decide how many (and which) systems can be given to this server (obviously there would be different combinations of traffic and internal data requirements).
It is a really interesting idea and it would be kinda cool to have a 'home system' that you can create and manage to a certian extent.
Yes, since roleplaying and strategic components exists, some Game Masters needed. More massive it is, more GMs. To rule NPC as individuals, groups, economics and politics... make quests, etc. Not necessary per-system, of course. But this variant too. Certainly bots can perform most day-to-day activities, but AI alone cannot make game world really bright.
The good thing about it is that as the owner of the system you can modify it how you want. You can create your own complex of bases, defenses and traps, and other players can explore a constantly growing universe.
"To be Game Master (or game admin)" and "to host server process somewhere" are
different things. Of course, many requirements overlaps - like understanding of system's basics, certain level of responsibility and some extent of enthusiasm. Consequently these roles can be combined rather frequently.
This peer to peer system has always been a kind of "holy grail" for gaming enthusiasts. The concept is that you run your own server which manages a single star system (or castle or level in different genres) and players can move around freely connecting and disconnecting from servers as they move to different regions in the game.
[...]
The bad is that its highly vulnerable to exploitation, trouble making and hacking. If everybody has a copy of the server software, it mean with a bit of reverse engineering anybody can find out how to hack it. If you can design your own system to some extent, some players will design systems that are simply no fun to play in. Then you have the technical difficulties of indexing the servers and fixing holes in the game world when players drop offline.
It just
cannot be p2p, since locations have fixed places in game world and connections between them
should be defined as single-valued functions. Especially when it's Elite, where starmap exists !
Therefore "game central" is necessary, to ensure univocal correspondence.
"Holy grail" or not, as soon as it's real and needs to be managed, it anyway raises some self-organized structure and positions of responsibility - some decision-makers, some support specialists, etc.
As regards the troublemaking - IMHO, chap who foolishly cheats, self-boosts, etc., instead of sensible co-GMing will not be sysadmin someone would gladly entrust important server process anyway (even without server-cheats issue), eh?
P.S.: Of course, this approach requires responsible and interested admins, but this should be said about
any massive online system, right ?..