I guess I'm already biased due to my years on Steem, but I like the term Steempower. However, it does create overhead and unneeded complexity.

Many crypto people are already familiar with the term staking. And it would be easier for outside people looking into Steem to understand that Steempower is just referring to the token in a staked state.

Besides that, I also don't think it makes much sense to keep VESTS around. Steem Engine made the correct move, by creating a single token, with different states (staked, delegated, idle).

Personally, I'm very much in favor of simplifying things!

My only concern is backwards compatibility in regards to SMTs. Or in other words: we have to make sure that SMTs created before these potential changes, are not getting deprecated by it. But that's something @vandeberg most likely is able to answer.