If my vague memories of what was going on 10+ years ago are close, the Eel River Canyon line has not been and will not be abandoned because officially doing so would trigger a massive environmental study and cleanup that could cost more than rebuilding the line. In fact, you might have to rebuild parts of the line in order to tear it out due to lack of adequate road access. Be that as it may, the trail thing probably won't happen for the same reason that rebuilding the railroad won't - Mother Nature, helped along by some local residents (legal or otherwise) who wouldn't be happy with folks wandering around their backyards.