While looking for something else I stumbled on a report which seems to be up for discussion by Midlothian Council on Tuesday.
Of interest to those with an interest in old and new railways and links to Midlothian.
"
2.10 Another possible option would be to explore an extension of TRAM3 from the Edinburgh Royal Infirmary along the former Bilston Glen line. This option would be easier to accommodate between Straiton and Penicuik however the City of Edinburgh Council are showing little sign of progressing TRAM3 as they had intended using Congestion Charging to fund this route.
As much of the Bilston Glen line runs through Edinburgh they may need to be partner in this option or at least not object as they have granted planning consent for a cycle path along the route.
"
http://www.midlothian.gov.uk/download/meetings/id/1614/18_penicuik_rail_line