I don't get into all the HP stuff, either, but I don't think the Lost Continent would need too much remodeling to make it HP-themed. Don't get me wrong -- I love walking through the Lost Continent, but compared to all the other sections of IOA, I'm not real sure what Lost Continent is supposed to be "about." Yes, I see the Sinbad show, and Posiedan's cool; Mythos is the best, but then I see present-day carnival type attractions and carnies yelling at me to throw a basketball in a hoop to get a Shrek doll. The Lost Continent suddenly doesn't feel very magical at that point.
I've always sort of felt that Lost Continent was like halfway complete, like somebody quit at the halfway point when they were building it and the guys in charge just put "filler" in there to take up space. And then they closed that awesome store outside of the Posiedan ride!!! ***???
I love the whole wizard/dragon/renaissance thing, but I think IOA could have done much better with the Lost Continent theming. Get rid of the carnival crap for starters -- or at least make it like a midevil carnival. Better yet, scrap all of that carnie stuff and put a ride there.
If HP can "finish" that part of the park, I'm totally for it.