It seems to me that a stud system, like Marklin's, would make sense as the center conductor for 3-rail track. I suppose it has not become popular because (among other problems) adopting it it would mean having to replace existing pick-up rollers with new "skates," which most people probably would not be willing to do. I haven't had any 3-rail trains since I was a kid and had some Lionel equipment. My father decided that American Flyer was the way to go because of its 2-rail track and because its size was "perfect" (he said). He helped me build a Flyer layout that was a lot of fun. Then I tried HO scale, but it was too small to be satisfying. Eventually, I found my way into 2-rail O-scale and I have been very happy with that choice, even though it is a minority endeavor. A stud system for the 3-rail market would appeal to the "scale" crowd in O-gauge and might attract others over time: but as others have pointed in several posts, the cost of tooling, manufacturing, advertising, and distribution for a whole new track system is probably prohibitive at this point in the 3-rail section of the hobby. Atlas track would look pretty nice with studs and the basic tooling is in place for switches!
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