I actually got a shot of a train on the line in 1999. We were headed for Arches, and spotted a train. I drove like mad up this switchback road just in time to get set-up to get the train passing us then going into the tunnel there near Moab. I used that scene in a variety program I did called "Western Rails". You can see this location as you enter or depart Arches National Park(one of my favorite parks).
You are right it probably would be fairly scenic, and would likely thrive being near the Arches National Park. There is also a lot of rafting in the area as another form of tourism.
I'll wait until you get your million and come ride your train!!!
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Greg