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Hopefully it wouldn't happen that way. Hopefully the existing .co.uk registrations would be converted into .uk registrations. If not expect much gnashing of teeth.
Even if 'not' .co.uk would still command more value for some considerable time imho, but the 'rush' to .uk would create a bubble of parallel value.
It depends what the rules are, not only do I hope it doesn't happen but I don't think it will. I've just gone through a few of my sites titles and they simply don't sound right, I'd have to rename sites if .uk was actually going to be the leader.
And with that attitude I can't even see .uk taking off. dot GB sounds better. But government are trying to ensure devolution for europe so that won't happen either.
Assuming it's just a thought exercise, I'd probably buy poker.uk
The way the industry is going, the bids will probably go higher and higher, so you'd probably clear $5 a click easily and there could be several hundred clicks a day...