I think hearing about the Nerevarine is as far as it will go. After such a long time he/she might be dead. And Nerevar 2.0 could have been any race and either gender. Unless he/she showed up as an androgynous armored warrior or blurry spirit, people would be unhappy.
So they would be if (s)he was canonized as certain race and six. Although he might not be dead; age has no effect on him/her, remember? (That's why he makes a perfect Telvanni sorcerer btw!
)
With rumors of Nerevarine going there, there might as well be a cult evolved around him/her, even if (s)he wasn't around anymore. Or, possibly House Indoril again? Either way, Nerevarine could be a topic in various quests. Or just a mention in latest rumors or something. I'd like it. Seeing Nerevarine in person would be a letdown though.