I have no idea why you bring up a 24 year old design built under a completely different ruleset. The FW aero regulations have been pretty stable since 2009, many teams merely refined their designs instead of coming up with completely new ones. So if a simple design could be successful at the front of the grid in 2010, it could still work for a team like HRT two years later.
Yeah, well the front wing of the MP4/4 of 1988 was also good for McLaren at the time and won them 15 races out of 16. It doesn't mean you can't do better today in 2012. Ok it's a launch version but look at other teams launch versions, and you'll understand that to be in F1 it requires a complete different dedication and work on details.
But as i said, they are using a simplified version of their 2011 wing. They will have their reasons for removing the cascades, but it's not that they are lacking dedication or are unable to build more detailed designs. Maybe the parts weren't ready yet, maybe they will have a completely new front wing - we'll know in two weeks.