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A referendum would be based on updated information about the Brexit reality, but it's not obvious that the updated information is any more accurate, or the voters more involved or educated, than they were last time around. There would be tremendous squealing if Remain won this time around. I'm not sure about the point of a referendum, either.
Seems to me that the best approach would be a vote on all three of the major and realistic options, Brexit vs May vs Remain. That goes against a few hundred years of voting tradition, though.
My money is on delay, delay, and hope the problem is solved by being overtaken by some other catastrophe. Which seems fairly likely given the US versus the world thing that is also going on. But the delay strategy depends on the EU allowing it...
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