It seems to me that Mike Judge doesn't actually need Trey Parker and Matt Stone to do this (having done it several times already).
Judge has way, way more heart that Parker and Stone put together, and I think that relation would probably doom any project between them. Unlike P/S, Mike Judge is never mean.
If you ask me, I'd suggest he do something with Mike Mills.
Id imagine it would be a instant classic, hilarious hard-hitting social commentary.