If you pull out a map of the 1920's PRR, there are a ton of lines that dissapeared, mostly as a result of the PC merger. Some actually went places. To me one of the best freelancer concepts would be to take one of those lines as a shortline that survived, use real place names, continue the PRR feel and legacy.
Living along the 'real' A&E, it was still very strongly PRR up until Conrail. Today there's only a few signs left that give you the 'ah-HA' moment that says PRR. The A&E made it, barely, kind of, although we nearly lost it in 1980. But there are other routes
A good example would be the freelancing that would have resulted if the Kinzua Reservoir had never cut the line between Warren and Olean. Would that have survived as a Pittsburgh-Buffalo route? Would it be part of the WNYP today? It had the lowest grades, and low grades usually win. Similar status on the Low-Grade; I'll tell you there are even railroad professionals today that look at that and say 'How did we let that one go?' . It would have been an eastern version of Montana Rail Link had it survived. Strategically, that was one of those that 'just missed'.
So you get to use real place names that had a real railroad, depots, etc. on a route that is now abandoned. Ex-PRR.
I do have to admit that I like Dave Vollmer's approach using a PRR-theme layout and running everything from PRR in the 20's through Conrail as the mood strikes him. Once you get that 'feel', you've got it. And he's evolved to a very specific 'place name' - Lewistown - from more generic PRR beginnings.
You can still keep the shortline name if you want, but I think pulling more prototype structures and names into a concept enforces a discipline that makes a better model and modeler. PRR is still out there if you look - the position light signals are still along the A&E at Corry at MS - makes for some nice shots.