Haven't been reading forums much unless bored, actually playing the game most of the time. Just curious if we'll ever see the old terrain tool or with premade regions is it gone for good? Obviously someone is going to make a comment about it as DLC, so I'll make it for you. That being said, I just want to level/flatten hills and possibly create lakes. I think that would be within the limits possible without altering a region too much.
Then again if we get city limits unlocked one day and access to the whole region (like you can apparently with developer tools) you could just terraform the whole map and the region would be more about location and less about preset land, if that makes sense.