It might not have been a that great trick to hang a torpedo
underneath a Blenheim, as in bolt the bomb bay doors shut after cutting appropriate holes in them to clear struts/mounts for the torpedo. This does affect both range and speed compared to putting the torpedo
inside the airplane and with the limited power British engines of the late 30s needing all the help they could get to get an aircraft up to a decent speed. However most any monoplane would have had a huge advantage on speed/range over the Vildebeest.
There is no real technical reason that some sort of half-a**ed torpedo bomber could not have made using the Blenheim as a base.
The MK IV was supposed to have an all up weight of 14,400lbs. They were using MK Vs at up to 17,000lbs all up. I don't what was modified to allow the MK V to operate at that weight but I would guess the modifications were minor.
Such a torpedo bomber would neither the speed or range of the Beaufort (or perhaps even the Botha
A much better Blenheim than the MK IV could have been built using existing parts ( in the sense that nothing needed to be "invented" rather than finding production capacity) even in 1939.
The real
what if comes in the already mentioned political struggles (read inter-service and intra-service rivalry/s).
Prying
any "remotely usable" bomber away from bomber command
in 1938-39-40-41 was difficult if not impossible depending on the year.
"Remotely usable" being anything that could fly from Britain to the German border, drop several 500lb bombs and return to Britain
if not attacked by the Germans. Being a bit facetious here to get the point across.
Had
extra production been available to build 400-600 more twin engine aircraft then Bomber Command would have been foaming at the mouth like a rabid dog trying to get them too.
In hindsight we
know that bomber command accomplished almost exactly squat (nothing) in 1939-40 and parts of 1941 so any diversion of assets stood a good chance of improving
something---anything over what was done.
What is hard to understand is the refusal to consider these diversions (splitting) of assets (aircraft/crews/ground crews)
at the time given both the experiences of WW I and the lack of proof of results at the time. How long did it take before photo recon missions were started to assess bomb damage (or lack of it) by bomber command?
Or the fact that next to nobody was willing to point out that the emperor had no clothes?
The British had
ONE night bomber squadron in 1937-38 (please correct this) flying bi-planes and this squadron rarely flew (let alone practice bomb) at night in order to reduce accidents.
It is one thing to plane your doctrine/strategy on an unproven concept. It is another thing to base it on a doctrine/strategy that hasn't even been really trained for, practiced or trialed in exercises.
One of the few things bomber command did get right was the rapid shift from daylight bombing to night bombing
after Wellingtons and Hampdens were shown to be incapable of penetrating German "air space" without unacceptable losses in the fall of 1939.