According to the article below, Frank hints that the glorious magnum will return with the title update. This is not definite but he seemed confident that most of what they are testing will make the cut. The magnum will probably not feel exactly the same but it would be incredible if they could tweak the reach magnum to allow it to function more similarly to the original. At the end of the article, it is mentioned that a new feature will be coming to firefight! If they are capable of tweaking individual weapon properties I will be so happy.
Already saw a few threads on this, as long as it only tweaks the bloom for ONLY the Magnum and nothing else, then I will be happy with it.