Carrying on from Darth Glentract's idea of Revan setting up a Jedi Academy, you could play as one of his students. Revan is old and is looking to pass the torch, so to speak, to one of your fellow students, his apprentice. Suddenly a mysterious army led by a Sith Lord attacks the academy. Revan and his students manage to fight them back, however during a duel between Revan and the Sith Lord, he is betrayed and killed by his top student (who it turns out led the Sith to them all along) With the academy now under Sith control, you flee in a modified freighter to try and clear your head.
You are a Padawan and a pretty average one at that and you must choose whether to rise up and restore Revan's Jedi order or join with his apprentice and rule the galaxy. It's a bit generic, but I'd throw in a few twists and turns here and there 😄
There are a few problems with your theroy 1. You are acting as if turns 100% good at the end of Kotor 1, Whearas we all know that Revan can turn Good or Evil. PLUS Revan Dissappeared to the Unknown Reigons (I belive it to be Sith Space [Not The Dark-side religion, but the Species]) And i'm not going into the choice that revan could be a Girl (Which I don't believe he is) but noone knows the TRUE identity of Revan (Exept the caricters in Kotor 1.
Cannon? I don't remember a cannon. was it in Light or dark (If you have kotor 2 talk to t3-m4, gain some influence, and fix him, and you will get a hollo-recording of Bastila talking about Revan (The message changes depending whether he was good or evil.) Plus, as Evil there is a Sith Holocron with Bastila talking about...yeap...you guessed it...Revan. If there are any more please tell me.