If they "relax" the call to 704 this summer, a whole lot of rivers are going to be a whole lot bonier than they ever have been.
This isn't correct. Natural stream flows keep the water above that level in the beginning of summer, and the "call" traditionally comes in late summer when natural flows taper off. However, this call basically only comes from Green Mountain Reservoir (there are other sources of water, but Green Mountain is by far the biggest). What this means is less water in the lower blue and upper colorado (gore, pumphouse, etc) late in summer when flows normally get a bump. Other rivers won't really be affected by this - there may be less water in the Grand but there generally isn't water in the Grand in late summer any way.
The other rivers are going to be bony, but only because there is no snow, not because of the relaxed call.
The only potential good news is that it may free up more water for Bailey, but we'll have to wait and see.