Remember how Lambert bicycles began because of the aerospace layoff's in the 1970s? The engineers and machinists invented an outlet for their skills rather than hit the welfare lines. You'd think that, with all the layoffs and cutbacks going on today, somebody would try this again. Just think of the innovation and craftsmanship such a bike would possess if a group of Americans put their ingenuity and passion into it. A home-grown quality bicycle manufacturer - I'd buy one! Would anybody else?
Bring back the Lambert name, why bother? I think they were pretty much a joke at the time, at least to those who like to race their bikes. Good marketing though.
I don't know if the OP meant bring back the name or not, but it certainly isn't a good idea to do that. Lambert did something that is fairly common: they approached bike design like everyone that had built bikes before them were a bunch of rubes that didn't know what the were doing. Well, they were wrong, and they were the ones that didn't know what they were doing. Sometimes, it's the little things that make all the difference.