I might play if people will let me use real duals as proxies for the shocklands (which I am definitely not going to pick up beyond the singleton set I already have for EDH until they are reprinted and the price goes way down).
Of course, that assumes I can find an amusing deck to play. I was actually trying to brainstorm some deck ideas for Modern last week, but every time I came up with something it turned out that it probably needed some card or two that wasn't legal to work (either too old or banned), so I just gave up. I guess I'm familiar not enough with the newer cards to actually brew for the format, so I'll probably just wait until there is some established combo deck that I enjoy before diving in. Then they'll probably ban it.
In reality, I might play modern if there are actually people in my area that pick up the format also. It looks a little too creature oriented for my tastes, as I'm used to Vintage decks and non-aggro legacy decks.