I don't know how much of a chance there is to see it return on another network. I think the show would fit really well on a network like USA, the problem is whether WB is interested in shopping it, and if any networks would be buying it. You can also expect to see the production values affected as I don't think we'd be able to get the production values of Season 2 on cable, especially if they try to retain most, if not all, of the cast as regulars.
It's POSSIBLE but I don't think likely, anda lot may depend on whether or not it performs well syndicated.